Permanent magnets for vehicle-propulsion motors: cost/availability

Alternating-current induction motors have been used for fuel-pumping and air-conditioning in airplanes. Series and shunt DC motors have propelled vehicles. The power received by motors goes into producing output torque and magnetic fields. Today these fields can be produced with rare-earth permanent magnets which do not consume input power. Dramatic improvements in motor efficiency can result. Furthermore, with efficient variable-speed controllers using MOSFET and IGBT semiconductors, electric motors can replace the hydraulic actuators that move aircraft surfaces and retract landing gear. The 1993 cost for the magnets in a 100 kW motor was $1500. Improved production processes are expected to drop this cost to around $400. However, today's rare-earth magnet-materials are by-products of mines that produce other metals and minerals. We explore the effect on cost of increased demand for the pertinent rare-earth elements, neodymium, cobalt, and samarium. A higher price will cause more elements to be extracted from existing mines. The opening of new rare-earth-element mines is another possibility. In 1993 the $250-per-kg cost for neodymium-iron-boron magnets included $190 for processing. Processing cost can drop to $30 per kg of magnet when production reaches 60 tons per month. The cost of the raw material for the magnets will be affected by many factors in a complex scenario.