Rare Earth Metals and Russia-Ukraine war: Geopolitics and the Future
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Rare Earth Metals and Russia-Ukraine war: Geopolitics and the Future
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Rare earth metals are vital components in modern technology, driving a geopolitical competition for control of their supply. China currently dominates the rare earth market, giving it significant leverage, while countries like the U.S. and Australia are seeking to diversify supply chains. The Russia-Ukraine conflict impacts this landscape by disrupting mining and supply, and potentially increasing collaboration between China and Russia. The U.S. aims to revive domestic mining and form strategic alliances to counter China's dominance. Rising demand from green energy technologies and potential technological advancements in mining are expected to further intensify the geopolitical scramble for these resources. Ultimately, control over rare earth metals could determine future technological and economic power.