Rare earths refer to a group of 17 elements which are silvery-white metals. Out of these 17 elements, there are 15 lanthanides, plus scandium and yttrium. The 17 elements are: scandium, yttrium, lanthanum, cerium, praseodymium, neodymium, promethium, samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium and lutetium.
Despite the word rare, in their nomenclature, rare earths are not scare in nature. Some are even more abundant than lead. However, they are typically found in law concentrations and are mixed with other minerals. Their extraction and separation are, therefore, costly and complex. The US scientists developed the refining techniques for rare earths for the first time in the 1950s. Since 1980s, China has dominated this market, owing to lower costs, relaxed environmental considerations and the government support.
China accounts for about 60 percent of the world’s mine output and over 70 per cent of the refined production and magnet manufacturing.
These elements per se or the magnets made from them are essential components in a variety of technologies. They are present in LED lights, smartphones, household appliances, electric vehicles (EVs), medical devices, advanced military hardware (missiles, radar and F-35 fighter jet).
Rare earth magnets are essential in permanent magnet synchronous motors. Such motors are the core of EV propulsion systems, and create high torque, energy efficiency and lead to reduced size of EV motors.
They are used in defence guidance systems, in consumer electronics.
Disruption in supply can adversely affect industries. China uses rare earths to leverage the negotiations. All Chinese companies need to get special export licenses to send rare earths and magnets out of China.
Foreign companies in China are required to have approval of the Chinese government to export even small amounts of rare earths.
Efforts are being made in the US, Europe and Australia to develop alternative supply chains.
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