The Society has published a briefing note on the rare earth elements (REE), developed by an expert working group chaired by Professor Paul Henderson.
Geoscientist 22.01 February 2012
Nic Bilham writes: REE have a wide variety of applications, and are increasingly important in the production of low-carbon technologies such as wind turbines, electric traction motors and hybrid vehicles. Demand for REE has increased by more than 50% in the last decade, and is expected to rise further. In 2009, China produced around 97% of global REE. Recent reductions in Chinese export quotas led to increased prices, and have exacerbated concern about future security of supply. While geological scarcity in absolute terms is not likely to be a problem, the technical, financial, environmental and regulatory challenges which must be overcome to establish new REE mines could mean disruptions in supply over the next decade.
Geoscientists will play a vital role in the search for rare earth ore deposits and their extraction, in ensuring that as little damage is done to the environment as possible in extraction, and in addressing questions about security of supply and future demand for REE. We hope that this briefing note will help to inform debate among scientists, policy-makers, potential investors and other industry players.