Lessons Learned in Resiliency - Strengthening International Nuclear Security Cooperation.
Abstract not provided.
Dockery, Holly↗
Engineering topics
Bennett Irion, Allison
Publications and source records attributed to Bennett Irion, Allison.
Agent-based modeling of supply disruptions in the global rare earths market
Several independent assessments have identified rare earth elements (REEs) as critical materials, notably neodymium (Nd), praseodymium (Pr), and dysprosium (Dy) used in permanent magnets. Factors affecting their criticality include expected growth in demand arising from their unique performance-enhancing properties in consumer, energy, and military applications and the supply risk associated with China's dominance in their production. We demonstrate the use of Argonne's Global Critical Materials (GCMat) agent-based model to explore the possible consequences to REE market dynamics of different types of regional supply disruptions including a temporary loss of production, shutdown of capacity, and diversion of supply. Results suggest that supply disruptions may foster earlier and more REE mine starts outside of China, although some of these mines may not be able to sustain operations post disruption. Further, price and associated market responses such as production, capacity, and demand tended to extend beyond the disruption period. Such market impacts in the magnet supply chain could affect the costs and availability of a number of emerging clean energy technology applications such as electric vehicles and wind turbines. In the future, GCMat could be used to evaluate the effectiveness of mitigation strategies - including recycling, conservation, product substitution, and diversification of supplies - on reducing the severity of disruptions in REE markets.
36 MATERIALS SCIENCE↗
Argonne’s global critical materials agent-based model (GCMat)
Several studies have identified rare earths as critical materials. Although reasonably abundant in the Earth’s crust, rare earths typically occur in low concentrations of mined ores. Processes for recovering rare earth concentrates from these ores are complex and capital intensive. Further, lead times for deposit development, licensing, and construction are long, with reports of 10- 15 years. China is a major player in the rare earths supply chain, both in production capacity and technology innovation. In 2017, China supplied more than 80% of global rare earth oxide demand. Rare earth elements (REEs) have unique magnetic, catalytic, and phosphorescent properties that significantly improve performance of a wide range of technologies. These technologies span aerospace, energy, telecommunications, electronics, transportation, defense, and other diverse applications. Consequently, disruptions in rare earth supply can have a significant societal impact. Estimating that impact requires understanding of the dynamics across the supply chain, from rare earth oxide extraction to end use application. This report documents Argonne’s Global Critical Materials model (GCMat), first described by Riddle et al. 2015. GCMat provides capabilities to explore supply chain dynamics and uncertainty under scenarios of demand growth or shrinkage, technology adoption, supply disruptions, and trade policies and mitigation strategies of new supply sources, product substitution, consumer thrifting, and stockpiling. Supply chain participants from rare earth mining through final demand are modeled as interacting agents who make market decisions independently as time progresses. Since the version documented in Riddle et al. 2015, GCMat has been expanded to cover additional REEs, derived products and supply chains that use these REEs, and includes new agent behaviors and modeling capabilities. Section 2 provides a summary of the GCMat model design, including the structure of the model and key assumptions, section 3 summarizes methods used for model calibration and sensitivity analysis, and section 4 provides examples of model results.
36 MATERIALS SCIENCE↗