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// By Richard Revelins
Awesome AussiesRarified Air Are Rare Earths positioned to become the next hot commodity? Yttrium, Neodymium, Terbium, Lanthanum, Dysprosium, Cerium, Praseodymium, Gadolinium………..You can be excused for thinking someone is trying to secure a critical element to maintain the warp core stability of the US Starship Enterprise. For the “Trekkies” amongst us, of course well all know it is the dilithium crystals that perform that function. Dilithium is a molecule composed of two covalently bound lithium atoms which exist in gaseous lithium. Word of warning, I wouldn’t be putting dilithium crystals into your new Tesla or you’ll be traveling “Back to the Future” quicker than you can say Elon Musk! For non-Trekkies, dilithium crystals don’t actually exist in the real world…………….or do they? What does exist are the 17 Rare Earth metals, which are increasingly being spoken about and explored for and are arguably about to become the next big thing because of their strategic importance. According to ResearchandMarkets.com (1 February 2023), in 2021 the Rare Earths market was worth around
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$7 billion and is projected to reach $15.5 billion by 2030, growing at 9.1% CAGR from 2021 to 2030. To put this into perspective the lithium market for 2022 was also estimated at $7 billion. The lithium market will probably grow at a more rapid rate than that of Rare Earths over the next few years, because of the number of deposits already discovered and the advanced nature of many emerging new lithium producers. So, what are Rare Earths used for and why are they so strategically important? To start with, the term “Rare Earths” is a bit of a misnomer, as they are not really rare at all. However, because of their geochemical properties, Rare Earths are typically dispersed and not often found concentrated in Rare Earth minerals. Rare Earths, or REEs, are primarily used in the production of permanent magnets (30%), high tech devices, smart phones, electric vehicles, computers, LEDs and flat screen TVs. These uses, as well as high tech military applications, make these elements
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