U.S. production of critical rare-earth elements to start in 2024
Story by Craig Cole • Yesterday 1:13 PM
There are 17 rare-earth elements on the periodic table. These exotically named metals possess unique properties that make them useful in a huge range of high-tech applications, from powerful electric motors in the latest and greatest EVs to speakers, aircraft, guidance systems and even MRI machines. While not necessarily hard to find, rare-earth metals are difficult to extract and process, work that, today, is almost completely done overseas, an issue one American company is tackling head on.
The People's Republic of rare-earth elements
"China produces over 92% of permanent magnets today," said Tom Schneberger in an interview with EV Pulse. He's the CEO of USA Rare Earth, a company headquartered in Tampa, Florida that's striving to secure a reliable and commercially viable domestic source of these critical materials.
China's dominance in this field has obvious risks, a situation that Schneberger said is increasingly unpalatable for the U.S., EU and other major global regions. "And that's before you take into consideration the fact that these magnets are also used in defense, planes and artillery, and guidance systems," he added. A reliable local supply of rare-earth metals and the ability to process them at home is critical not just for a cleaner, greener future, but for national defense as well.
https://www.msn.com/en-us/money/other/u-s-production-of-critical-rare-earth-elements-to-start-in-2024/ar-AA1cydGz?ocid=msedgntp&cvid=665d47af3a024747909020af183245de&ei=47
