Aspiring rare earth material producers aiming to compete with the likes of Australia’s Lynas Corporation and Iluka Resources will have to focus on manufacturing customised products for clients to break into the market.
This is according to research and consulting firm Frost and Sullivan (F&S), which in its latest research on the $5.40-billion global rare earth materials market says that major mining companies are conducting extensive market research of client needs to offer products for specific applications and to create tailor-made solutions.