- China currently dominates the high-value market for rare earth elements (“REE”), but growing political tensions increasingly threaten this key supply chain, limiting the potential distribution of REE for crucial high-tech applications, such as military assets, electric vehicles, wind power generation, as well as mobile phones, and many others
- Ucore’s mission includes an ESG-centered model using RapidSX technology for the refining of REE from U.S. Allied sources, including Canada, as well as Louisiana and Alaska
- The REE market was valued at $5.3 billion in 2021 and is expected to continue growing quickly, at a CAGR of over 12%, resulting in a value of approximately $9.6 billion by 2026
Recent events have brought to light serious tensions that currently exist between the U.S. and China – including the Chinese spy balloons recently shot down in U.S. airspace and China’s anger toward the U.S. for an increased military presence planned for the Philippines. China has moved to claim dominance in the South China Sea, considering the waters as its own, in direct opposition to surrounding nations, such as the Philippines, and international law. These tensions threaten to disrupt current trade relations, including the distribution of vital rare earth elements (“REE”), on which China currently has a virtual monopoly.
Rare earth elements are a set of seventeen metallic elements necessary for the operation of many high-tech devices, including electric vehicles, cellular telephones, computer hard drives, flat-screen displays, and various defense-related products. The REE market was valued at $5.3 billion in 2021 but is expected…
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