RARE EARTH ELEMENTS

What are rare earth elements ?

Les terres rares sont un ensemble de 17 éléments rares, qui présentent des propriétés chimiques.

The Japanese call them “the seeds of technology.” The US Department of Energy calls them “technology metals.”

They make possible the high tech world we live in today – everything from the electronics, to the enabling of green energy and medical technologies.

These elements have become irreplaceable to our world of technology, thanks to their unique magnetic, phosphorescent, and catalytic properties.

What are the elements ?
Here a few…

Neodynium | Neodymium-Iron-Boron alloy (Nd2Fe14B) makes the most powerful magnets in the world. These magnets are used in loudspeakers and computer hard drives to make them smaller and more efficient. | | Lanthanum | Improves clarity in camera and telescope lenses.Key component of batteries in hybrid vehicles, computers and electronic devices. | | Cerium | Used in catalytic converters in cars, enabling them to run at high temperatures and playing a crucial role turning smog-causing molecules into carbon dioxide. | | Gadolinium | Used in X-ray, MRI scanning systems and television screens.Used in shut-down mechanisms for nuclear reactors. | | Europium | Phosphor for red and blue in visual displays, including TVs and computer screens.Used in control rods in nuclear reactors because of neutron absorption capabilities. | | Terbium | Solid state devices use sodium-terbium borate.Being investigated as an activator for green phosphors used in color TVs.Combined with Neodymium for production of super magnets. | | Dysprosium | Frequently used in the creation of laser materials, control rods for nuclear reactors, in infrared radiation, and in data storage, such as hard disks. | | | | |

For example, an iPhone uses eight rare earths – for everything from its colored screen, to its speakers, to the miniaturization of the phone’s circuitry. While the amount of rare earths in each phone is very small, the quantity of phones sold each year is impressive. According to Apple, in 2012 over 125 million iPhones were sold worldwide, up from 72 million in 2011.

Where do they come from ? ( Exploitation )

China became the world's dominant producer of rare earths in the 1990s.

Because China sold rare earths at very low prices, mines like Molycorp’s Mountain Pass in California and others throughout the world were unable to compete.

By 2000, China accounted for more than 95% of world rare earth production. China is also the dominant consumer of rare earths, which they use mainly in the manufacture of electronics products for domestic use as well as export.

Japan and the United States are the world’s second and third largest consumers of rare earths.

In a normal market, supply reductions would trigger price increases.
At that point, new sources would be developed. The long lead time between discovery and production means there is no quick way to increase supply in the rare earth market.
End-users are at a significant disadvantage by only having one major supplier. (Other sources are being developed, including the Bear Lodge Project, but none are currently in full production or can provide a full suite of all the rare earth elements.) These factors have resulted in a great deal of uncertainity in the market place and significant price volatility.

According to the 2013 Worldwide Threat Assessment2 of the National Intelligence Office, rare earths are “essential to civilian and military technologies and to the 21st-century global economy, including green technologies (e.g., wind turbines and advanced battery systems) and advanced defense systems.” This is why developing a domestic source, like the Bear Lodge Project, is critical.