London -- Interest in rare earth elements is increasing as technology opens up potential applications, according to a new report released on companiesandmarkets.com. The report, entitled Rare Earth Elements Markets Worldwide provides a comprehensive review of the marketplace, trends, applications, production, demand, locations and competitors, to 2020.

The United States produced most of the world's rare earth elements (REE) up until about 1985, but China has since taken over and now produces around 97 percent of the world’s supply. Having limited rare earth element sources presents difficulties including supply constraints, reduced shipments and outright embargos, environmental problems, and rising prices. Since the 1950's there was very little exploration for new REE sources (except in China) but many countries and mine operators are now actively seeking new REE deposits and developing existing ones. So mining companies and countries reliant on China’s exports of rare earth elements are pushed to prospect for new deposits.

The Rare Earth Elements Markets Worldwide report addresses key political, economic and environmental factors which impact upon the market, as well as its size, locations, structure and participants. Key players, analysed within the report, include Molycorp Inc, Lynas Corporation Ltd, Great Western Minerals Group Ltd, Great Western Minerals Group Ltd, Arafura Resources Ltd, Avalon Rare Metals Inc, Greenland Minerals and Energy Ltd, Frontier Rare Earths Ltd, US Rare Earths Inc, Stans Energy Corporation. Information is provided on their agreements, partnerships, patents, trademarks, licences, mine development and financial performance.

Despite the name, the 17 rare earth elements are found in deposits all over the world, but only occasionally in large enough concentrations that make extraction economically viable. Interest in rare earth elements has increased significantly in recent years, particularly for applications where weight, strength and efficiency are of the utmost importance. Electric vehicles use large quantities to minimise weight and enhance battery capacity. Other applications include medical treatments for certain cancers and glaucoma, via X-ray systems and lasers; electrical goods such as televisions; highly powered magnets for wind generators; refrigeration and water treatment.

More information can be found under companiesandmarkets.com.

Quelle: BUSINESS WIRE

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