Dear MEL Topic Readers,
What are rare earth minerals, and why are they central to Trump’s trade
war?
Rare earth elements (REEs) are 17 metallic elements in the periodic
table made up of scandium, yttrium, and the lanthanides. Rare earths are
ubiquitous in the technologies we rely on today, from smartphones to wind
turbines to LED lights and flat-screen TVs. They’re also crucial for batteries
in electric vehicles, MRI scanners, and cancer treatments. They are called
"rare" not because they are scarce in the Earth's crust, but
because they are difficult to find in concentrated, economically viable
deposits. Also, while some REEs are relatively abundant, they are usually
dispersed and mixed with other elements, making extraction challenging, expensive,
and environmentally damaging, which has made China and a few other countries the
dominant suppliers of the processed REEs. In fact, while China produces approximately
60% of the world’s raw magnet rare earth elements, it occupies over 90% of the
global refined supply. For the USA to domestically process enough REEs for its
needs, it’ll take years of financial investment, regulatory approvals, and environmental
studies, in addition to access to REEs. No wonder the US administration wants Ukraine
and Greenland to become suppliers of REEs.
Read the article and learn what rare earth minerals mean to trade and
national security.
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