There are 17 REEs: yttrium and scandium and the 15 lanthanide...

There are 17 REEs: yttrium and scandium and the 15 lanthanide elements (cerium, dysprosium, erbium, europium, gadolinium, holmium, lanthanum, lutetium, neodymium, praseodymium, promethium, samarium, terbium, thulium and ytterbium). The metals – which have exceptional magnetic and conductive properties – are critical components of more than 200 products across a wide range of applications, including smartphones, computer hard drives, hybrid and electric vehicles (EVs), wind turbines, solar panels and flat-screen monitors and televisions. Significant defence applications include electronic displays, guidance systems, lasers, and radar and sonar systems.One of the most important REEs is neodymium, and an alloy of neodymium, iron and boron (known as NdFeB) creates the strongest permanent magnet yet discovered. These magnets also contain some praseodymium, creating the alloy PrNd. It is vital to the world’s ‘clean energy revolution’ and the objective of carbon neutrality by 2050. The magnets are used in EV drive trains, wind turbines and energy-efficient applications. In fact, up to 600kg of REEs are required to operate just one wind turbine. Approximately one kilogram is needed for every EV battery.NdFeB magnets are also used, sometimes in small quantities, in smartphones, microphones, loudspeakers, dentures, door catches and MRI scanners. They permeate all aspects of people’s lives, although many do not realise.Demand for rare earths rising fastThe annual demand for REEs doubled to 125,000 metric tonnes (t) in the 15 years to 2021 and is projected to reach 315,000t in 2030. Adamas Intelligence forecasts that the value of global magnet rare earth oxide consumption will triple from $15.1bn in 2022 to $46.2bn by 2035. Rare earth oxides are essential to many industries worth trillions of dollars.