Rare earths

Rare earths are metals, a group of 17 elements that are relatively abundant on Earth, but not often found in concentrations high enough to make them economical to mine on their own—they’re often the byproduct of mining something else.

Whether it’s a hybrid engine, a wind turbine, or devices like laptops and cellphones, there’s a good chance one of these rare earth materials is used in its creation.

1788: The term rare earth is coined when an unusual black rock is unearthed by a miner in Ytterby, Sweden.

1952: The Mountain Pass rare earths mine opens in California.

2002: The Mountain Pass mine shuts down, undercut by China’s low prices.

2015: China consolidates its rare earth industry around six major state-owned giants.

2018: The Mountain Pass restarts operations.

2021: The Biden administration outlines steps to strengthen critical supply chains, including rare earths.

Which one of these statements is true?

A. Every Toyota Prius has 55 pounds of rare earths.
B. A F-35 fighter jet has 920 pounds of rare earths.
C. A nuclear submarine has 9,000 pounds of the materials.
D. All of the above.

Find out by listening to the Quartz Obsession podcast.

The global rare earth market is dominated by China. The country is home to about two-thirds of the world’s rare metals and materials like antimony (used to make semiconductor devices) and barite (used in everything from paint to golf balls).

60%: China’s share of global rare earths extraction in 2019

87%: China’s share of global rare earths processing volume in 2019

168,000 metric tons (185,000 tons): China’s production quota for rare earths for 2021

20%: Increase of that quota compared with 2020

After China’s temporary rare earths embargo against Japan in 2010, Tokyo realized it had to address its own vulnerability. In the years since, it has worked successfully to diversify its critical mineral supplies, investing in and partnering with rare earth companies around the world, supporting rare earth recycling efforts, and funding research on rare earth substitutes.

Sure, we carry around rare earth materials every day in our cellphones. But euro users also carry around a luminous kind of rare earth called Europium. Europium, which glows red under ultraviolet light, is present in euro banknotes for anti-forgery purposes. Fake notes don’t blush.

Is it a coincidence that the euro uses Europium? The jury’s out.