July was an important month for the rare earth market. In perhaps the most significant news of the year, China released the rare earth export quota for the second half of 2011, sending the market into a frenzy yet again. Other top headlines included the continuing rise of rare earth prices, and the alleged Japanese discovery of rare earth deposits on the floor of the Pacific Ocean.
Understanding the rare earth markets can be as confusing as pronouncing the various names of the metals. Made up of 17 different elements, ‘rare earths’ are not actually all that rare in the earths crust. However, the economic viability of the processing of ore make them one of the least mined substances in the world. Understanding the different elements and their uses is essential for taking advantage of this growing market.
Understanding the rare earth markets can be as confusing as pronouncing the various names of the metals. Made up of 17 different elements, ‘rare earths’ are not actually all that rare in the earths crust. However, the economic viability of the processing of ore make them one of the least mined substances in the world. Understanding the different elements and their uses is essential for taking advantage of this growing market.
It is important to note the distinction between rare earth elements and similar terms used in the resource sector. Two classifications that are often confused with rare earth elements are Rare Earth and Rare Metals.
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