Rare earth elements are incorporated into many modern technological devices, including superconductors, miniaturized magnets, electronic polishers, refining catalysts and hybrid car components.

Rare earth ions are used as the active ions in luminescent materials used in optoelectronics applications, most notably the Nd:YAG laser. Phosphors with rare earth dopants are also widely used in cathode ray tube technology such as television sets.

Global rare earth production

Until 1948, most of the world's Rare Earths were sourced from placer sand deposits in India and Brazil. Through the 1950s, South Africa took the status as the world's Rare Earth source, after large Rare Earth bearing veins were discovered in Monazite

Today, those Indian and South African deposits still produce some Rare Earth concentrates, but they are dwarfed by the scale of Chinese production. China now produces over 95% of the world's Rare Earth supply.

The use of rare earth elements in modern technology has increased dramatically over the past years. For example, dysprosium has gained significant importance for its use in the construction of hybrid car motors.

Unfortunately, this new demand has strained supply, and there is growing concern that the world may soon face a shortage of the materials. All of the world's heavy rare earths (such as dysprosium) are sourced from Chinese Rare Earth sources such as the polymetallic Bayan Obo deposit.

High Rare Earth prices have wreaked havoc on many rural Chinese villages, as many illegal rare earth mines have been spewing toxic waste into the general water supply.

Chinese export quotas have also resulted in a dramatic shift in the world's Rare Earth knowledge base. For example, the division of General Motors which deals with miniaturized magnet research recently shut down its US office and moved all of its staff to China.