1 August 2024, 10:49 | Updated: 1 August 2024, 10:52

By Dr Helena Ivanov

Rare earth materials rarely make headlines, but their role in our everyday lives could not be more critical.

From the cell phone in your hand and the TV in your living room to the electric car you drive and the fighter jets defending nations, these technologies all rely on rare earth minerals for their existence.

If the stable supply of rare earth minerals were cut off tomorrow, life would change catastrophically.

Rare only in name and actually more abundant than silver and gold, these minerals consist of 17 metallic elements with unique electrical and magnetic properties. They form the nervous system of our society. The role of these critical minerals, used in the production of EV batteries, is only expected to rise as the world pushes for greener energy.

Experts suggest that the demand for these critical minerals is expected to grow by 400-600%, and for lithium and graphite specifically, the demand could increase as much as 4,000%. Thus, economic dominance in our multi-polar world will rest on a race for these critical minerals that will rival the........

© LBC