But Rare Earth Metals Will Still Be in Short Supply
If you think that this discovery will deflate the demand and price of rare earth metals, you are probably wrong, for some interesting reasons:
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The newly found deposits are believed to hold about a million tons of rare earth elements. That sounds like a lot, but according to some estimates, that will only meet about 1/10 of the world’s demand for only one year.
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It will take between 10 and 15 years before any of the newly discovered metals will arrive on the marketplace. Before they can be mined, various environmental studies must occur. Following that, the metals can be mined. But even then, they must still be processed. (Note that today, most of the world’s rare earth metals are still processed in China and Russia.)
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The demand for rare earth metals continues to increase. Cars, phones, laptops, and tablets use them, and the production of those devices continues to rise every year.
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Mining cannot keep up with the demand. Mining from the world’s natural deposits of rare earth metals cannot meet the growing demand.
What This Means for Your Investments in Precious Materials
The same computers, phones, and other electronic devices that contain gold and silver also contain small quantities of rare earth metals. Unfortunately currently, the amount they contain is very small – in fact, that old cellphone you are about to toss contains less than a few pennies worth of rare earth elements. However, due to increasing demand, we can foresee a day soon when new extraction processes will make it possible to reclaim rare earth metals from various devices.
Another trend to watch is that scientists are developing new and less expensive compounds that will have the potential to replace rare earth metals in touch screen and other applications.
We invite you to continue to watch the stories we post on this blog. We will continue to monitor the market for rare earth metals, and we will keep you apprised of developments.
What If You Have Rare Earth Metals to Reclaim Today?
If you have phones, tablets and other devices that utilize touch screens, give our precious metals refiners a call today at 800-426-2344. And be sure to tell us about all the varieties of gold and platinum scrap and other precious metals you have. We are here to answer all your questions about investing in precious metals.