January 11, 2023
"Rare Earths,” Electrification Mandates, and Energy Security
By Mark Krebs --
Rare earth minerals, on which the forced transition to “clean energy” depends, are critically constrained by many of the same factors as fossil fuels. Supplies of these minerals are dominated by regimes with intent to cultivate and exploit our growing dependency on them. As these raw materials are extracted and the strategic dominance of China increases, prices will have a premium that will impact consumers. Finding and developing supply chain alternatives will also bring increased energy expenditures necessary to secure and process these rare earth minerals. This will decrease ostensible environmental benefits from “green energy.”
In short, the prospects are poor. “Betting the farm” on it happening as planned is problematic at best.
Mining Weekly
January 12, 2023
Europe's biggest deposit of rare earth metals
STOCKHOLM -
Swedish state-owned mining company LKAB said on Thursday it had identified mineral resources of more than one million tonnes of rare earth oxides in the Kiruna area, the largest known such deposit in Europe.
Rare earth minerals are essential to many high-tech manufacturing processes and are used in electric vehicles, wind turbines, portable electronics and microphones and speakers.
"This is good news, not only for LKAB, the region and the Swedish people, but also for Europe and the climate... a significant building block for producing the critical raw materials that are absolutely crucial to enable the green transition."
EDITED BY: REUTERS
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