Rare Earth Elements Market to Reach USD 5,520 2 Million by 2028; Surging Adoption of Electric Vehicles to Reduce Emissions will Aid Growth, Says Fortune Business Insights™
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Why Rare Earths Matter for American Security
They may not actually be super rare, but access to these materials does impact American technology and the U.S. military.
For one-third of the price of one F-35 Lightning II, the Pentagon made a key investment to ensure its supply of rare earth elements.
The Department of Defense earlier this month announced that Lynas USA LLC was awarded a $30.4 million technology investment agreement under Title III of the Defense Production Act.
With that award, Lynas will construct and begin operating a light rare earth elements processing facility in Hondo, Texas.
The recent announcement from the Pentagon serves as an important milestone and reminder of the ground gained and left to be won in the effort to secure a reliable rare earths supply chain for the U.S. defense industry.
Ryan Williams is a junior majoring in international economics at Georgetown University and a member of the Young Leaders Program at The Heritage Foundation.
For one-third of the price of one F-35 Lightning II, the Pentagon made a key investment to ensure its supply of rare earth elements.
The Department of Defense earlier this month announced that Lynas USA LLC was awarded a $30.4 million technology investment agreement under Title III of the Defense Production Act.
With that award, Lynas will construct and begin operating a light rare earth elements processing facility in Hondo, Texas.
The recent announcement from the Pentagon serves as an important milestone and reminder of the ground gained and left to be won in the effort to secure a reliable rare earths supply chain for the U.S. defense industry.
Ryan Williams
President, The Claremont Institute A general view of Steenkampskraal (SKK) rare-earth mine on July 29, 2019, about 80Km from the Western Cape town of Vanrhynsdorp. RODGER BOSCH / AFP / Getty Images
Key Takeaways
Rare earth elements are used in a wide range of items: communications equipment, precision-guided weapons, night-vision goggles, and stealth technology.
Mining and processing facilities for these rare earth elements, however, are not as easy to find outside of China.
In the rare earth elements sector, there is a limited but vital role for government to play in ensuring defense programs have access to the materials they need.
For one-third of the price of one F-35 Lightning II, the Pentagon made a key investment to ensure its supply of rare earth elements.
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