Rare earth elements (REEs) are a group of 17 chemically similar metallic elements that are essential components of many high-tech products and technologies, ranging from wind turbines and electric vehicles to nuclear reactors and fighter jets.
Demand for REEs is forecasted to continue growing strongly in the coming years, driven by the increasing demand for clean energy and global electrification of the transportation and automotive industry, the growth of the consumer electronics industry, and the ongoing demand for REEs in defense and medical applications. Western supply of REEs is impacted by significant geopolitical and supply chain risks, with the majority of global REE production controlled by China and few sources of reliable REE supply in the Americas
