Forget oil, the real battle is for rare earth minerals - so why are we letting China win? |
6 March 2025, 09:37
By Dr Helena Ivanov
As the fate of the Russia-Ukraine war hinges on a minerals deal between the US and Ukraine, the world is once again reminded of critical minerals’ strategic importance.
While most ordinary citizens rarely consider rare earth elements (REEs), their daily lives rely on them. These minerals are essential to everyday technologies such as mobile phones and electric vehicles. Moreover, REEs are critical to defence technologies, playing a key role in the production of fighter jets.
Demand for these vital minerals is expected to rise significantly in the coming years. Some experts predict that the need for lithium alone could increase by as much as 4,000% as the world shifts towards greener technologies – an energy transition that depends heavily on rare earth elements. As a result, they are fundamental to modern life in Western liberal democracies.
Yet, this modern way of life could easily be disrupted and brought to a halt due to a strategic miscalculation made years ago, which allowed China to gain near-monopoly control over these vital minerals. Specifically, China currently accounts for “nearly 90% of global........