Rare Earth Metals (REM) belong to a group of 17 elements that have very unique chemical and physical properties. These metals are critical to dozens of high-tech industries, from wind turbines and electric vehicles to LED lighting and smartphones. Ironically much of the green economy’s key elements are not recycled.
Direct drive wind turbines use rare earth magnets (praseodymium, neodymium and dysprosium) which are stronger per unit weight and volume than any other magnet type, meaning these metals cannot be matched by any other elements.
Despite the name, REMs are not that rare. Did you know? There are more REMs in the ground than copper or lead. These elements are known as rare as they are extremely difficult to mine and separate economically.
The rare earth series include the most valuable traded elements. Lutetium is several times more valuable than gold.