Rare Earths and Other Mineral Raw Materials: The Many Faces of Criticality

"A critical element, as the term has come to be used, provides essential properties to a modern engineered material and is subject to supply risk. The rare-earth elements became perhaps the most prominent of the critical elements in recent years because of their important uses in permanent magnets, advanced lighting, and military materials; the geographic concentration of production in China; and the dramatic run-up in prices in 2010-2011 followed by price collapse between 2011 and 2016. Yet criticality extends beyond the rare earths. What is critical depends on your perspective – who and where you are, and when you ask. This paper reviews the many perspectives on, or faces of, critical elements. It compares and contrasts perspectives of industry (General Electric), national or regional manufacturing sectors (Japan, European Union), emerging energy technologies (as seen by U.S. Department of Energy and, separately, Joint Research Centre of the European Commission) and the world as a whole (as evaluated by academics). This comparison reveals a diversity of not only perspectives but also methodologies and time frames of concern.INTRODUCTIONRare-earth elements appeared prominently in the news in 2010 and 2011 because of the dramatic increase in their prices; their important uses in permanent magnets, advanced lighting, and military materials combined with the geographic concentration of production in China, which reduced export quotas significantly. Rare earths became the most prominent of what have become known as critical elements or materials – that is, those that provide essential properties to modern engineered materials and yet are subject to supply risks.Yet criticality, the state of being both essential and subject to supply risks, extends beyond rare earths. What is critical depends on your perspective. This paper begins by reviewing a little history and presenting a general conceptual framework from which to think about critical materials. It then reviews the many perspectives on, or faces of, critical elements – corporate, national, and global, as well several that focus on emerging energy technologies. The paper concludes with thoughts on what to do to mitigate the potentially negative effects of the supply risks associated with criticality."