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October 26
- The Economic and Strategic Importance of Rare Earth Metals
➀ In the 18th century, the term 'terres' was used by chemists to refer to metallic oxides, which were considered rare due to their extraction and separation difficulties.
➁ The first rare earth element, yttrium, was identified in 1794 by the Finnish chemist Johan Gadolin.
➂ In the late 19th and early 20th centuries, elements like cerium, lanthanum, and neodymium were discovered and used in optics and lighting.
➃ The 20th-century industrial development gave rare earths a new impetus, especially in extraction methods, with over two hundred minerals containing these elements.
➄ In the 1940-1950s, they were used in alloys for metal strength, particularly in military applications.
➅ China has become a major player in rare earth extraction and refining, leading globally with over 90% of the world's supply.
➆ China's reserves are estimated at 44 million tons, with the U.S. and Greenland having smaller reserves.
➇ Ukraine holds 5% of the global reserves, particularly in areas controlled by Russian troops.