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You could be forgiven if you are confused about what’s going on with rare-earth elements. On the one hand, news reports indicate that China may increase production quotas of the minerals this quarter as a goodwill gesture to the Joe Biden administration. But other sources say that China may ultimately ban the export of the rare earths altogether on “security concerns.” What’s really going on here?
There are 17 elements considered rare earths lanthanum, cerium, praseodymium, neodymium, promethium, samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, lutetium, scandium and yttrium and while many aren’t actually rare in terms of global deposits, extracting them is difficult and expensive. They are used across high-tech manufacturing, including smartphones, fighter aircraft and components in virtually all advanced electronics. Of particular note, they are essential to many of the clean-energy technologies expected to come onlin
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The asset is a closed-end fund that lets investors redeem large blocks of shares in exchange for delivery of silver bullion. Adding to the case for PSLV is silver’s durability during the worst of the coronavirus pandemic and expectations that it will perform well when COVID-19 is defeated.
A major, longer-ranging catalyst for PSLV and silver prices is the metal’s role in the booming renewable energy industry.
“As clean energy initiatives gain traction, greater attention is being paid to the critical roles of various metals and minerals,” writes Sprott portfolio manager Maria Smirnova. “Access to these valuable materials has become critically important, which is why several resource-rich nations, including Canada and Australia, have joined the United States in establishing the Energy Resource Governance Initiative (ERGI), an alliance to disseminate best practices for discovering and developing reserves of minerals used to make electric vehicles.”
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