Rare earth metals, also known as rare earth elements (REEs), refer to a group of seventeen chemical elements found in the Earth's crust. These elements are from the lanthanide series, which includes the atomic numbers 57 to 71, and are often accompanied by the element yttrium (atomic number 39). Despite being referred to as "rare," they are actually relatively abundant in the Earth's crust, but are generally sparsely distributed and challenging to extract economically.
Rare earth metals possess unique and valuable properties, making them crucial components in various modern technologies. These properties include high melting points, magnetism, luminescence, and exceptional strength. These elements play a vital role in the production of numerous products, such as magnets, batteries, alloys, catalysts, and electronic devices like smartphones, computer screens, and wind turbines.
Due to their indispensability in advanced technologies, rare earth metals have gained strategic importance globally. China currently dominates the world's rare earth metal production, accounting for a substantial share of global reserves and output. This has raised concerns among other nations regarding supply and market control.
Despite their name, rare earth metals are not particularly scarce in abundance, but the difficulty in extracting and refining them makes sourcing an intricate process. Increasing efforts are being made to explore alternative sources and develop recycling methods to ensure a sustainable and secure supply chain for these valuable elements, reducing dependence on a single country or region.
