The Demand for Rare Earth Metals Is on the Rise as Global Supply Chains Face New Challenges.
Rare earth metals are a group of 17 elements used in various products, including consumer electronics, electric vehicles, and military applications. China dominates the global production, accounting for about 60% of mine production and 90% of processed output. The environmental impact of processing rare earths is significant, with toxic waste produced and radioactive thorium or uranium present in some ores.
- The increasing demand for rare earth metals highlights the vulnerability of modern supply chains to disruptions, particularly in industries reliant on critical materials.
- Will the global shift towards more environmentally friendly technologies lead to a decrease in rare earth metal production, or will new extraction methods be developed to mitigate environmental concerns?