If I say the words “rare earths” to you, many of you will get a blank look on your face. Those of you with training in the sciences, engineering, and geology will have a good idea of what these words mean.
Rare earths are rare elements found primarily in China. I could confound most of you with a list of these elements. To make a long story short, our technological world could not continue without the input of these elements. Your mobile phone, your flat screen television on the wall, your dishwasher, your washer/dryer, your central heating and air conditioning systems, your car (be it gasoline or electric), and your smartwatch, would not work without the input of these elements. On a macro level, electricity could not be generated without the high-technology components that depend on rare earths inputs. When you go to the doctor’s office or the hospital, the advanced machines that keep you healthy would not work without rare earths.
The government would not function without the high-technology items that depend on rare earths. Most of your jobs would not be possible without high technology inputs. I could continue listing items for a long time.
Today, China produces 68.75% of the world’s rare earths. This causes fear and deep concern. What if China decided to stop providing the West with these elements? What if China dramatically raised the price of these elements?
This week a company named Rare Earths Norway made a surprise and stunning announcement. They have discovered huge deposits of these rare earths at the Northern tip of Norway. This means that the West is on its way to no longer depending on rare earths from China. Here is a link for those curious:
Ohaman171 