Rare Earth Elements: Not So Rare, But Hard to Extract
There has been a lot of discussion in recent weeks about Ukraine’s “rare earths” – but the term is misleading. These 17 elements are relatively abundant in the Earth’s crust. However, they are seldom found in concentrated and mineable deposits. This scarcity of concentrated sources makes extraction and processing challenging.
Ukraine is believed to hold significant rare earth deposits, potentially accounting for about 5% of global reserves. Yet, many of these assessments are based on outdated Soviet-era surveys. The accuracy of these figures remains uncertain.
Moreover, a substantial portion of Ukraine’s mineral wealth lies in regions currently under conflict. This geopolitical instability hampers exploration and development efforts.
Beyond rare earths, Ukraine boasts vast reserves of other critical minerals like lithium, titanium and graphite. These resources are essential for technologies such as batteries, aerospace components and renewable energy systems.
In summary, while rare earths are vital, it’s Ukraine’s broader mineral wealth that holds significant potential. Unlocking this potential requires modern geological assessments and stable investment conditions.
