Abstract for: Towards a more Resilient Rare Earth Supply Chain with product recycling in the EU
Renewable energy technologies have been seen as the key solution to climate change. Rare Earth Elements (REEs), as the critical materials for manufacturing vital components of these technologies, have been rocketing in demand. EU countries are putting efforts on recycling technology development of REEs to build supply resilience and keep up with the growing demand. VALOMAG project is one of the examples, where recycling technologies are being developed with regards to rare earth magnets. To better understand rare earth supply chain resilience in the coming 30 years, and to what level the recycling can increase the resilience, this study applies system dynamic modelling on the recycling technologies in VALOMAG project. We explore the future scenarios and also the responses from mining and manufacturing in rare earth supply chain. The rare earth future recycling scenarios in electric vehicles and wind turbines are highlighted in this study. Candidate policies proposed from the scenario exploration are also tested and compared. Policy recommendations are provided till 2050.