The rare earth metals tag is a misnomer, as the elements are actually found far and wide.
“The metals themselves aren’t rare,” said Worstall. “Cerium, just one of the 17, is on its own more common than copper. We mine millions of tons of copper a year, while all 17 rare earths combined are only 120,000 to 130,000 tons a year.”
But separating rare earth materials from each other presents a huge challenge in the processing plant, which means rivals can’t enter the market.
“Chemistry depends upon the outer electron shell and nearly all REs [rare eartghs have the same number of electrons in that outer shell, which makes using chemistry to separate them, one from the other, ineffective,” said Worstall. “So, we’ve got to use some aspect of physics…
