Rare earth metals: options for a more sustainable future

Abstract

Rare earth metals (REMs) are integral to the manufacture of the technologies required for the transition to a low-carbon economy. With growing demand for clean technologies that rely on REMs, such as wind turbines and batteries for electric vehicles, global commodities companies are scrambling to increase their share of the REM market. This Energy Insight explores the current market conditions for REMs, and how their scarcity and China’s global monopoly on supply may present a binding constraint to meeting our global climate change commitments. This research is part of the Energy and Economic Growth Applied Research Programme