Many of the latest technologies such as hybrid cars and tv displays use rare earth elements such as europium and tantalum. Guess who currently controls the majority of these supplies? Advantage China.
Silicon may represent one of Earth’s more common elements, but it transformed Silicon Valley into a high-tech corridor and helped usher the world into the Information Age.
Now rare earth elements with exotic names such as europium and tantalum hold the key to hybrid cars, wind turbines and crystal-clear TV displays - that is, if a looming supply shortage doesn’t stop innovation in its tracks.
Rare earth elements, called “rare earths” by those who use and study them, often prove irreplaceable in green technologies and high-tech consumer products. Yet the world’s production of rare minerals relies mainly upon China, and the Chinese government warned last year that its own rising demand will soon force it to stop exporting the precious elements.
”Countries and companies that have or plan to develop industries that need rare earth minerals to make products are concerned about China’s growing consumption, which they fear will eliminate China’s exports of rare earths,” said W. David Menzie, chief of the international minerals section at the U.S. Geological Survey (USGS).
China has also encouraged companies that use rare earths to locate their manufacturing facilities in China, Menzie told TechNewsDaily. But some companies fear moving because of concerns about intellectual property protection, he added.
Deposits of rare earth elements exist in the United States, Canada and other countries. But only China’s government supports the mining and refining industries capable of processing the resources from start to finish.