Rare earths: Global supply chain under spotlight

The global supply of critical minerals and rare earth elements is a major concern due to their essential role in high-tech industries like electric vehicles, wind turbines, and electronics. Production remains highly concentrated, with China controlling over 60% of rare earth mining and 85 per cent of processing. Governments and companies worldwide are now racing to diversify supply chains and develop new processing technologies to reduce dependence and ensure secure stable access. CNBC Africa is joined by the CEO of Rainbow Rare Earths, George Bennett for more.

Tue, 11 Mar 2025 11:21:46 GMT

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AI Generated Summary

Rare earth elements are essential in high-tech industries like electric vehicles, wind turbines, and defense systems, with China currently dominating the global supply chain.
Rainbow Rare Earths, led by CEO George Bennett, is pioneering a new approach to rare earth elements mining that focuses on sustainability, cost efficiency, and environmental impact.
The company's innovative extraction and processing technologies, along with a strategic timeline for production, position Rainbow Rare Earths as a key player in diversifying the global rare earth supply chain.

Rare earth elements are becoming increasingly critical in the high-tech industry, with applications in electric vehicles, wind turbines, consumer electronics, and defense systems. China currently dominates the supply chain, controlling over 60% of rare earth mining and 85% of processing, leading to concerns about geopolitical risks and global supply security. In response, governments and companies are actively seeking to diversify supply chains and develop alternative sources of these essential minerals. Rainbow Rare Earths, under the leadership of CEO George Bennett, is positioned as a key player in this shifting landscape. The company's innovative approach to rare earth elements mining could potentially reshape the industry and reduce global dependence on China. Rainbow Rare Earths' focus on sustainable extraction and processing technologies sets it apart from traditional rare earth projects, offering a competitive advantage in terms of cost efficiency and environmental impact. George Bennett's vision for the future of Rainbow Rare Earths is ambitious yet practical, with a strategic timeline for production that could significantly impact the global rare earth market. With key milestones ahead and a clear plan for growth and sustainability, Rainbow Rare Earths is poised to lead the charge in revolutionizing the rare earth elements mining industry.