Monday, 5 April 2021

Rare Earth Election

Rare earths are metals, essential for the batteries of mobile devices and electric vehicles. Currently, China has the largest deposits of these elements and operates most of the processing facilities. There is currently an election in Greenland, where rare earths are the major 'bone of contention' (https://qz.com/1988240/rare-earths-mining-takes-center-stage-in-greenland-elections/#:~:text=%20Rare%20earths%20mining%20is%20taking%20center%20stage,project%2C%20China%20also%20has%20key%20strategic...%20More%20). Major deposits of rare earths are found in Kvanefjeld (South Greenland). The area is owned by the Australian 'Greenland Minerals' company (with a 10% investment by China). Some local politicians want to ban extraction of rare earths from this location. This is largely on the basis of the damage it would do to tourism and the environment (the rare earths have been made more accessible by global heating). Opponents, argue that the money that could be made from the operation, would enable Greenland to diversify economically (and become less dependent on Denmark). Some people outside Greenland, see mining rare earths in Kvanefjeld as an opportunity to reduce world dependence for these technologies on China. They also argue that the planet needs cheap rare earths, if there is going to be a 'green revolution'. It will be interesting to see how this plays out.

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