Table of Contents
WHY IN NEWS
- North Korea have the world’s largest rare earth reserves which amount to total 216.2 million tonnes.
- The monetary value of this reserve could amount to $ 6-10 trillion.
- Modern technological advancement rely heavily on the availability of rare earth elements.
WHAT ARE RARE EARTH ELEMENTS
- Rare earth element (REE) is group of seventeen chemical elements in the periodic table which include fifteen Lanthanide and Scandium and Yttrium.
WHAT ARE RARE EARTH ELEMENTS
- Despite their name, Rare earth elements are, with the exception of the radioactive promethium, relatively plentiful in Earth’s crust.
- However, because of their geochemical properties, rare-earth elements are typically dispersed and not often found concentrated in rare-earth minerals. Hence economically exploitable ore deposits are less common
IMPORTANCE OF RARE EARTH ELEMENTS
- Rare earth elements are used almost everywhere in modern technologies. Their use is essential in following sectors
- Consumer Electronics
- Defence
- Clean Energy
CONSUMER ELECTRONICS
- Rare earth elements are used in
- Circuits
- Sensors
- Screens
- Batteries
- Smart phones
- Laptops
- Any electronic device will be twice heavy and will loose its display resolution in absence of rare earth elements
DEFENCE
- In defence sector rare earth elements like Neodymium,Dysprosium are used in
- Laser, Radar, Sonar
- Night vision glasses
- Missile guidance system
- Jet engines
- Smart bombs
- Armoured vehicle
- Anti ballistic missile defence systems of Russia and USA :THAAD and S400 also use rare earth material
CLEAN ENERGY
- Rare earth magnets based on neodymium are key components in electric cars and wind turbines. LED lighting relies on yttrium and cerium.
WORLD PRODUCTION AND MONOPOLY OF CHINA
- China has monopoly in production of Rare Earth Oxides. 95 percent of total world production of rare earth elements come from china.
TRADE WAR AND RARE EARTH ELEMENTS
- China is the biggest supplier of rare earth elements to USA. In its trade war with China, USA banned Chinese telecomm giant Huawei and some 70 Chinese affiliates over national security concerns. China has been looking for a high-tech counterpunch by imposing export ban on rare earth elements to USA.
US EYING ALTERNATIVES
- After China’s threat to stop export of Rare Earth materials to the US amid the ongoing trade war between the countries.
- US is trying to ensure its supply of rare earth elements by reviving its own domestic rare earth industry.
RARE EARTH SECURITY AND KOREAN RESERVES
- China is trying to pursue the North Korean and Kim Jong Un government for JV to explore the large reserves of rare earth elements in North Korea. In case china gets the access to the Korean reserves. It can make a deal with Russia to provide rare earth elements in exchange of energy security by Russia and Central Asia.
USA AND NORTH KOREA
- Russo-china alliance with surplus rare earth material and USA with scarcity of same will put USA in disadvantageous position. To access the large reserves of North Korea, USA needs to start Reconciliation with North Korea
RECONCILIATION
- USA and UN imposed economic sanctions on North Korea after it conducted first nuclear test in 2006. North Korea have reiterated that, its nuclear and missile programme is for development of deterrence capabilities and demanded recognition of its nuclear power status similar to India, Pakistan and Israel.
RECONCILIATION
Economic sanctions imposed on North Korea have proved to be counter productive and provoked North for further tests in 2009, 2013, 2016 and 2017
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