{"id":18992,"date":"2022-03-04T14:30:51","date_gmt":"2022-03-04T14:30:51","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=18992"},"modified":"2022-03-23T10:36:34","modified_gmt":"2022-03-23T10:36:34","slug":"connecting-global-rare-earth-industry","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/connecting-global-rare-earth-industry\/18992\/","title":{"rendered":"Connecting the global rare earth industry"},"content":{"rendered":"

The Global Rare Earth Industry Association (REIA) describes the aims and priorities of the organisation.<\/h2>\n

The Global Rare Earth Industry Association (REIA) was founded in 2019 with the support of the EU Commission as a non-profit organisation representing the rare earth industry worldwide and run by a multicultural and experienced Board of Directors.<\/p>\n

REIA is dedicated to:
\n\u2022\u00a0 Improving the knowledge of rare earth elements (REE) as critical enablers of advanced technologies;
\n\u2022\u00a0 Supporting the development of sustainable, responsible, and collaborative value chains, from mining to recycling; and
\n\u2022\u00a0 Creating transparency and certification of products and processes for the REE industry.<\/p>\n

REIA already counts 40 active members. We bridge the gap between the different stakeholders and connect the industry with consumers, upstream with downstream. We also work alongside national and regional partners around the world.<\/p>\n

REIA commitments<\/h3>\n

Today\u2019s society simply cannot do without rare earth elements. Yet, the REE industry faces numerous challenges such as:
\n\u2022\u00a0 Profound misinformation \u2013 very much due to a lack of transparency about what REE are, their value proposition, applications, potential risks & opportunities;
\n\u2022\u00a0 Inefficient recovery of REE from end-users. Today, less than 5% of rare earth magnets are recycled;
\n\u2022\u00a0 A high environmental impact during mining, refining and waste management processes;
\n\u2022\u00a0 Measuring this environmental and social impact vs the \u2018green benefits of rare earths;
\n\u2022\u00a0 The need for a more diversified supply chain and less volatility in prices
\n\u2022\u00a0 No industry-wide certification or unified socio-environmental reporting standards; and
\n\u2022\u00a0 There is insufficient collaboration and consensus within the industry (especially between upstream and downstream).<\/p>\n

REIA\u2019s role is to address these key challenges and promote a greater awareness of the benefits of rare earths and the sector\u2019s best ESG practices. Fundamentally, we strive to improve the security and sustainability within the rare earth industry so the rare earths can be adopted wherever they guarantee a superior technological performance compared to other choices.<\/p>\n

Are you a key industry stakeholder, large, medium-sized, small company, innovative start-up, university or research institute, NGO, and operating in the rare earth sector? Join REIA, the only Global Rare Earth Industry Association: www.global-reia.org<\/u><\/a><\/p>\n

REIA partnering to develop a blockchain-based circular system for assessing rare earth sustainability<\/h3>\n

REIA is partnering with BEC GmbH, Circularise, Grundfos, and Minviro to lead a three-year EIT RawMaterials funded innovation project to build a blockchain-based circular system for assessing rare earth sustainability (CSyARES). This project will allow downstream players to ensure sustainable practices throughout their supply chains, creating new business opportunities for manufacturers and recyclers.<\/p>\n

Demand for rare earth metals is skyrocketing, and by 2030 it is projected to reach 315,000 tonnes. These metals are irreplaceable in wind turbines, electric vehicles, mobile phones, computers and the defence industry. Rising demand combined with resource shortages and supply chain disruptions means we need to rely on sustainably mined and processed metals.<\/p>\n

Developing an innovative circular system for assessing rare earth sustainability is vital in achieving these goals. In this project, the partnering organisations aim to:<\/p>\n