EFR:CC - Rare Earths Stocks: 9 Biggest Companies in 2024

2024-06-19 16:55:00 ET

Rare earth elements (REEs) are crucial for technologies like smartphone cameras and defense systems.

A select few from the group of 17 are also vital to the expanding electric vehicle industry — neodymium and praseodymium are used in permanent magnet synchronous motors used in EV drive trains.

China's dominance in rare earth production and reserves has prompted countries like the US, Canada and Australia to boost their own mining and processing efforts to secure their supply chains. The pressure on these nations to establish strong supply chains is likely to grow when a US tariff on imports of Chinese rare earth magnets begins in 2026.

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