As the world’s dependence on technology continues to grow, so too does the need for rare earth elements. Today we delve into the subject of our growing dependence on China for the production and processing of these elements and the dire need for countries worldwide to reduce this reliance.
The vast majority of technology-based products and services are heavily dependent on rare earth elements. These elements are a group of 17 chemically similar metals that are critical to many industries, including renewable energy, technology, and defense. They are used in everything from smartphones and electric cars to wind turbines, satellites, and more.
As it stands, China is currently dominating the global production and processing of rare earth elements, accounting for a staggering 90% of the global supply. Despite possessing only 37% of the world’s known reserves, China has successfully established a stranglehold over the rare earth industry, mostly due to its less restrictive environmental regulations and lower labor costs.
This reliance on China for such a crucial resource poses multiple risks. From a strategic point of view, the risk of supply disruption due to political tensions or economic instability is a constant threat. From an environmental perspective, the extraction and processing of these elements result in significant amounts of radioactive waste, which China has been more willing to shoulder because of its less stringent environmental restrictions.
Countries around the world have started to realize the inherent risks involved and are now making a concerted effort to lessen their dependence on China for rare earth elements.
The United States, for instance, is spearheading this shift. With initiatives like the Defense Production Act of 1950, used by the Trump administration to earmark funds for developing rare earth mines and separation facilities, the country aims to jump-start its domestic production of these elements. Additionally, the US government has deepened its relationships with alternative suppliers like Australia and Canada, who have abundant rare earth reserves.
Another notable step towards gaining independence from Chinese rare earths is the exploitation of alternative resources. An example of this strategy can be found in Japan, where researchers discovered a large reserve of rare earth minerals in their own exclusive economic zone. By potentially harnessing these alternative sources, countries can drastically reduce their reliance on China.
Advancements in recycling and green technology offer another way forward. Recent innovations have made it possible to extract rare earth metals from electronic waste, providing an economically and environmentally sound source of these essential resources.
Furthermore, research is underway to find alternatives to rare earth elements in various applications. For instance, scientists are exploring the use of magnetocaloric materials, which can create efficient and environmentally-friendly refrigeration technologies without the need for rare earth metals.
In conclusion, as the demand for rare earth elements continues to rise, the need for a diversified supply and reduced reliance on China will become increasingly important. More than ever, countries worldwide must continue their efforts to explore alternative sources, foster local industries, and invest in research and development to secure their technological future.