Lack of this one object can bring whole world to standstill, it can cause Third World War, India’s arch-enemy controls largest reserves; it is…

Rare earth minerals have become very important elements for modern technology and industries.

New Delhi: For the past few years, we have been hearing a lot about ‘rare earth minerals’, and that they are extremely important to run the economies of many countries, thus, the whole world. Rare earth minerals are crucial for various high-tech applications, including renewable energy technologies, electronics, and defence systems.

Why are rare earth minerals so special?

Ever since the new technology and machines have been adopted by various industries, there has been a huge demand for rare earth minerals by every country. But the problem is that only a few countries have their reserves, and very few countries have the technical capability to mine them.

Let us know in detail why rare earth minerals are so special and what their utility is.

What are rare earth minerals?

Rare earth mineral is a group of 17 chemical elements. Elements like neodymium, dysprosium, cerium, lanthanum, and praseodymium are prominent in it. These elements are called rare because it is difficult to obtain and mine them in pure form.

What are rare earth minerals used for?

Rare earth minerals have become very important elements for modern technology and industries. They are used a lot in the electronics industry. Neodymium and praseodymium are used to make powerful magnets, which are used in smartphones and computers.

Used in EV batteries

The trend of electric cars and vehicles is increasing rapidly all over the world. The batteries of these vehicles cannot be made without rare earth minerals. Lanthanum is used to make nickel-metal hydride batteries in hybrid vehicles.

Military uses

Rare earth elements are used in lasers, radars, and guided weapons. Elements like samarium-cobalt magnets are used to make weapons effective. Yttrium is used to make jet engines capable of high temperatures and pressures.

Which country dominates the rare earth mineral sector?

China is the largest producer and exporter of rare earth minerals in the world. China controls about 60-70% of the global supply. In 2022, China produced about 210,000 tonnes of rare earth oxide, which is more than 70% of the rest of the world’s production. Even a country with advanced technology like America is dependent on China for rare earth minerals.

What will happen if China stops the supply?

If China stops supplying rare earth minerals to the world, the production of smartphones, electric vehicles, and wind turbines could stop. The prices of electronics and electric vehicles will increase a lot. Industries dependent on rare earth, like automobiles, will face a slowdown.

Power to start the Third World War

Rare earth minerals have become so important and necessary today that their shortage has the power to start a world war. Rare earth minerals have become as important today as oil and gas have been in the last 70-80 years. China had realized its importance long ago and started working on it. This is the reason why China has now reached a dominant position in the field of rare earth minerals.

HIGHLIGHTS

• Rare earth minerals are crucial for various high-tech applications, including renewable energy technologies, electronics, and defence systems.
• There has been a huge demand for rare earth minerals by every country. But the problem is that only a few countries have their reserves.
• Rare earth minerals include elements like neodymium, dysprosium, cerium, lanthanum, and praseodymium.
• The batteries of electric cars and vehicles cannot be made without rare earth minerals.

Ever since the new technology and machines have been adopted by various industries, there has been a huge demand for rare earth minerals by every country. But the problem is that only a few countries have their reserves, and very few countries have the technical capability to mine them.