Rare earth alliance seeks to avert supply shortfalls

Rare earth alliance seeks to avert supply shortfalls

WASHINGTON – Responding to growing concerns about shortages of rare earth materials, a U.S. industry alliance is bringing together rare earth producers, users and researchers to forge a strategy for coping with shortages while advancing technologies that rely on the materials.

The Rare Earth Technology Alliance held its inaugural meeting here on Wednesday (Oct. 17) to map out an education and outreach strategy. The group’s formation was driven largely by concerns about shortages of rare earth materials used in a wide range of electronics and energy production. Experts worry that rare earth-rich nations like China could act to disrupt global supply chains.

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“The rare earth industry will be facing many interesting challenges over the next few years, including growth of the markets, the creation of new supply chains, and the need for universities to develop technical and business leaders,” Pierre Neatby of alliance member Avalon Rare Metals Inc., said in a statement. The alliance “will help the industry meet its goals by achieving results that individual companies would have more difficulty achieving on their own.”

Other alliance members include Boulder Wind Power, GE Global Research, Molycorp Inc., Quest Rare Minerals and Rare Element Resources. The alliance is also supported by the American Chemistry Council.

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TAG:Rare Earth Technology Alliance Rare Earth Materials Rare Earth RETA