Rare earth metals are not remotely rare | FT Rethink

Market Overview & Demand - Rare earth metals are a group of 17 metals found almost everywhere but difficult to extract [2] - Rare earth metals are useful in various products including EV cars, phones, medical equipment, and military equipment [2] - Researchers forecast yearly demand to grow to approximately 240,000 tons by 2030, driven by decarbonization targets [2] Supply Chain & Geopolitics - 70% of all rare earths are mined in China and 90% are processed there [4] - China recently announced export restrictions, potentially threatening global industries [4] Environmental & Technological Considerations - Extracting and processing rare earths can produce toxic waste [3] - Opportunities exist for new recycling technologies and less toxic mining/processing methods [5] - The US and EU are investing in processing plants [5] Future Outlook - Demand for rare earths is expected to outpace technologies that reduce their need [6] - How the demand is met may look very different in the years to come [6]