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Clean Tech Needs Rare Earth Elements
Rare earth elements (REE) continue to be the intriguing outlier for the mining business, promising as they do to change the world as we know it. Essentially, a group of 17 different elements, REEs are relatively abundant in the Earth's crust, but discovered minable concentrations are less common than for most other ores, according to the US Geological survey. Bastnasite deposits in China and the US constitute the largest percentage of the world's economic REE resources, and monazite deposits constitute the second largest segment. The demand is from clean tech and many consumer devices, said Mkango CEO William Dawes. They are needed for the optimum functioning of wind turbines, smartphones and fuel cracking among others. Any application that requires miniaturization of components is likely to have them." The result was a rush of hopeful juniors wanting to get in. For most, it ended in tears. With the global collapse of commodity prices damaging mine finance across the board, cash-poor startups began to fold.
Clean Tech Needs Rare Earth Elements
Rare earth elements (REE) continue to be the intriguing outlier for the mining business, promising as they do to change the world as we know it. Essentially, a group of 17 different elements, REEs are relatively abundant in the Earth's crust, but discovered minable concentrations are less common than for most other ores, according to the US Geological survey. Bastnasite deposits in China and the US constitute the largest percentage of the world's economic REE resources, and monazite deposits constitute the second largest segment. The demand is from clean tech and many consumer devices, said Mkango CEO William Dawes. They are needed for the optimum functioning of wind turbines, smartphones and fuel cracking among others. Any application that requires miniaturization of components is likely to have them." The result was a rush of hopeful juniors wanting to get in. For most, it ended in tears. With the global collapse of commodity prices damaging mine finance across the board, cash-poor startups began to fold.
Clean Tech Needs Rare Earth Elements
Gavin du Venage (author)
2016
Article (Journal)
English
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