Texas is expected to begin extracting rare earth metals in 2023. (Image Credit: Elchinator/pixabay)
Seventeen rare earth metals are commonly used in everyday electronics, China exports, and manufacturing across the globe. However, 80% of these rare earth metals were sourced from China between 2016 to 2019, and in the future, we could see mining in Texas for these minerals.
Rare earth metals are spread out across the globe, but now there is a 950-acre state-owned site close to El Paso containing 16 of these metals. USA Rare Earth hopes to mine rare earth metals on that site by 2023. This will be the second company to mine and the first one to extract and process these metals. Mining operations would then create more jobs, add to the state’s GDP, provide stability to Texas and the United States toward rare earth mineral diversification.
These metals are used in electronics, such as televisions and cell phones. It also includes the Fort Worth F-35 fighter jet. Each jet contains approximately 920 pounds of rare earth minerals, making it imperative for the United States’ strategic defense to have diversification and production in the States. Overall, Texas hopes to produce 15 to 18% of rare earth minerals in the United States used annually.
Rare earth metals have become increasingly rare due to China’s dominance in the market. According to the Centre for Strategic and International Studies, the country provides over 85% of the world’s rare earth metals. It also contains two-thirds of the global supply of rare metals and minerals, including antimony and baryte. China is also the world leader in solar PV manufacturing and is home to over 90% of the world’s wafer manufacturing capacity.
To rely less on China for rare earth metals, the U.S. recently opened up its Mountain Pass mine in California for rare earth metal production.
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