So-called “rare earths” are naturally-occurring metals with unique applications for electronics, magnets, lasers, glass, and industrial processes, which are increasingly in demand because of the proliferation of electric vehicles, smartphones, and other emerging technologies. (Read details here.)
The problem is that China controls about 80% of the world’s existing supply, and they have obvious military applications, making them a strategic material controlled by an adversary.
It’s not a hopeless situation, though; China is merely the low-cost producer, and America and Europe have recoverable deposits. But reducing dependence on China likely will require subsidizing domestic production, and the Biden administration is moving in that direction, as part of Biden’s overall policy of standing up to China’s increasing aggression. (Read story here.)
Photo: This California mine is currently America’s sole source of domestically-produced rare-earths ore