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Rare earth elements as critical raw materials: Focus on international markets and future strategies

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  • Massari, Stefania
  • Ruberti, Marcello

Abstract

Supply of some critical raw materials by European industry is becoming more and more difficult. After the case of natural textile fibres, in particular cotton, and timber, over the last few years the problem of rare earths (REs) availability has also risen. The 97% of the global supply of rare earth metals (REMs) is produced by China, that has recently done copious cuts of its exports, apparently in order to protect its environment. This fact has greatly increased the REs prices, causing tension and uncertainty among the world hi-tech markets. Many of these materials, in fact, have very few effective substitutes and low recycling rates too. In addition, their natural reserves of rare earths are concentrated in a small number of countries (China, Brazil, US, Russia, Democratic Republic of Congo). REMs are a group of 17 elements particularly used in many new electronic and advanced components: such as fuel cells, mobile phones, displays, hi-capacity batteries, permanent magnets for wind power generation, green energy devices, etc. Many analysts foresee much more requests in the next decades.

Suggested Citation

  • Massari, Stefania & Ruberti, Marcello, 2013. "Rare earth elements as critical raw materials: Focus on international markets and future strategies," Resources Policy, Elsevier, vol. 38(1), pages 36-43.
  • Handle: RePEc:eee:jrpoli:v:38:y:2013:i:1:p:36-43
    DOI: 10.1016/j.resourpol.2012.07.001
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    References listed on IDEAS

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    1. Vivoda, Vlado, 2011. "Determinants of foreign direct investment in the mining sector in Asia: A comparison between China and India," Resources Policy, Elsevier, vol. 36(1), pages 49-59, March.
    2. Tiess, Guenter, 2010. "Minerals policy in Europe: Some recent developments," Resources Policy, Elsevier, vol. 35(3), pages 190-198, September.
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    More about this item

    Keywords

    Rare earths; World reserves; Hi-tech applications; Commercial conflicts;
    All these keywords.

    JEL classification:

    • Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply; Prices
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q37 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Issues in International Trade

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