Tuesday, January 28, 2014

Rare Earth Industry – A Turnaround in the Making

 Rare earth elements (REEs) are crucial raw materials in the production of many products we use every day. They have broad applications across a number of industries, and rare earth producers are considered important components of the global economy.
 There are 17 REEs in total. They are not rare in quantity, as the name suggests, and some are in fact more abundant than copper, lead, gold, and platinum. However, they are not geologically concentrated enough to make their extraction as economically viable as it is for elements like copper, gold and lead.
REEs are used in high-technology and clean-energy products. They also have important applications in the defense industry, including in the manufacturing of fighter jet engines, missile guidance systems, antimissile defense systems, and satellite and communication systems.

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