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buy rare earth metals
The world is increasingly dependent on rare earth metals, which are used in electric vehicles (EVs) and wind turbines. They are also in demand for a variety of other technology applications.
Invest in mining companies that mine and process these metals, or an exchange-traded fund that tracks a diversified basket of rare earth metals stocks.
China has held a dominant position in the rare earth metals industry since the 1980s. That shift was driven by global production growth and environmental pressures at home.
But China’s dominance can be dangerous for other countries that rely on these materials. They can quickly become isolated if they lose their source of supply.
Reshoring the supply chain is one strategy that could work, but it would require a substantial investment in mining and refining facilities. Other strategies include shifting production to other nations, and developing new deposits.
The US is attempting to reshore its supply of rare earths, a critical material in battery manufacturing. Under President Biden’s sweeping infrastructure legislation, the government is investing $30 million in research to re-establish domestic supply chains for important metals and components that power EVs, renewable energy systems and technology manufacturing.
Lynas Corporation, an Australian company, operates a separation facility in Malaysia and recently received $30.4 million to build a light rare earths processing facility in Texas. The Pentagon also awarded a contract to MP Materials, whose Mountain Pass mine is the only U.S. rare earth mine that is fully integrated, with mining, milling, separation and finishing areas all in one place.