The Conversation (0)
A recent report from the US Geological Society has reiterated the importance of finding rare earth element supplies outside of China, especially for countries dependent on new technologies. According to Mineweb, countries such as Japan, the US and members of the European Union are trying to encourage the discovery and development of rare earth deposits outside of China.
A recent report from the US Geological Society has reiterated the importance of finding rare earth element supplies outside of China, especially for countries dependent on new technologies. According to Mineweb, countries such as Japan, the US and members of the European Union are trying to encourage the discovery and development of rare earth deposits outside of China.
As quoted in the publication:
In recent years, expert panels convened by research institutes and government agencies have issued reports suggesting that “a high potential exists for disruptions in REE supplies,” said the agency. “As a result, several expert panel analyses rank REEs high on the ‘criticality’ factor of raw materials, meaning they are of high technological and economic importance and have high supply side risk.”
Global exploration for economic REE deposits and efforts to bring them into production have increased substantially since 2000, says the report. More than 400 rare earth projects were in progress during 2012, including many advanced-stage exploration projects.
Despite the many known REE deposits, “the global supply of REEs is limited by the cost and complexity of the REE deposits and developing REE mines, including REE extraction and separation facilities,” says the USGS.
Click here to read the full Mineweb article.
Click here to read the USGS report.