REMs (Rare Earth Minerals) and REEs (Rare Earth Elements) and their role in the global economic system and even national security will be defining issues in the decades ahead. The terms are used interchangeably. But the name is a misnomer, as they are not rare. It is the mining and, most importantly, the processing into a component in magnets that can be effectively used in everything from EVs to data centers and AI, which is complicated. Also, there are national security issues; for example, a single F-16 carries 100 lbs. of REMs.
The mining process is very destructive, but in Africa, it is also economically viable for multinational corporations. What does it mean that the US has essentially pulled out of Africa and access to this resource? Currently, the supply chain is on the other side of the world. China dominates the market, producing 90% of the refined product and effectively setting the price. What are the implications of this situation? How does this play into the larger national security issue?
