Growing Importance of Rare Earth Elements: Background and Implications
08.05.2013
The supply of rare earth elements (REEs) has become increasingly important in the context of natural resources security. Concern about the international availability of REEs is driven by their role in high-tech end-applications, including defence and electricity generation, and by the policies of China. As a dominant producer of REEs, China can successfully limit their supply on the world market. However, the growth of the REE industry outside of China limits the opportunities for using access to REEs to exert political pressure on importers. Diversification of REE supply is becoming an important prerequisite for the international competitiveness of highly industrialised countries, and should be a priority for Poland.
The supply of rare earth elements (REEs) has become increasingly important in the context of natural resources security. Concern about the international availability of REEs is driven by their role in high-tech end-applications, including defence and electricity generation, and by the policies of China. As a dominant producer of REEs, China can successfully limit their supply on the world market. However, the growth of the REE industry outside of China limits the opportunities for using access to REEs to exert political pressure on importers. Diversification of REE supply is becoming an important prerequisite for the international competitiveness of highly industrialised countries, and should be a priority for Poland.