What you need to know about rare earth minerals: “You can find them wherever you decide to look for them”

The term rare-earth elements - also known as rare-earth metals or simply rare earths, is a misnomer as these chemically-similar compounds are actually abundant with at least 800 known and documented rare earth deposits around the world, with the capacity to be exploited for commercial gain.

Most of those deposits can be found in China - by far the world’s biggest producer of rare earths (REEs). In 2023, China produced at least 240,000 metric tons of rare-earth-oxides (REO) - which accounted for 69 percent of the total global production.

Rare earths have become increasingly sought-after due to extraordinary magnetic and conductive properties, which make them valuable components in many advanced technologies. From smartphones to electric cars (EVs), REEs have played a crucial role in the ongoing miniaturization of electronic devices. They are also used in the production of lasers, glass, magnetic materials and numerous industrial processes.

What are the 17 rare earth elements?

There are 17 rare earth elements - chemically similar elements in the lanthanide series. All but two, Scandium (21) and Yttrium (39), occupy numbers 57 to 71 on the periodic table.

How scarce are rare earth minerals?

Despite their name, rare earth elements are a relatively abundant group. They were discovered in the late 18th Century. Yttrium (Y) was the first oxide of the series found in a quarry in the village of Ytterby, Sweden in 1787.

At the time of their discovery, they were assumed to be rare as no one had ever seen them before. According to the most recent figures, the biggest reserves of rare earths can be found in China (44 million tonnes), followed by Vietnam (22 million tonnes), Brazil (21 million tonnes) and Russia (10 million tonnes). The United States has approximately 1.5 metric tonnes of rare earth metals.

As Julie Klinger, associate professor at the University of Delaware’s Department of Geography and Spatial Sciences explains: “Even though rare earth elements are not rare, the fact that they are called as much makes them vulnerable to becoming factors or chips in various geopolitical struggles.

Where is the world’s biggest rare earth mine?

“Shortly after the founding of the People’s Republic of China in 1949, Chairman Mao went to Moscow, sat down with Stalin and together they worked out a plan to build industrial heartlands. Their primary industrial development site was in Baotou (Inner Mongolia) - Bayan Obo. Bayan Obo continues to this day to be the rare earth mining capital of the world”.

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