Critical Rare Earth Elements

SUPPLY AND DEMAND – GOVERNMENT REPORTS

According to the 2023 Critical Materials Assessment issued from the U.S. Department of Energy, four of the rare earth elements were found to be critical in terms of supply risk in the short and/or long-term. As shown in the criticality matrices below, those elements deemed critical are: Dysprosium, Neodymium, Praseodymium and Terbium.

Critical Materials Assessment, U.S. Department of Energy, July 31, 2023.

https://www.energy.gov/sites/default/files/2023-07/doe-critical-material-assessment_07312023.pdf

Global supply and demand projections of the five critical rare earth elements (CREEs) are shown in the following U.S. Department of Energy charts. Assumptions for estimating future trajectories (A, B, C, and D) of material demand are:

DoE CREO Trajectories 2023

For more on the need for rare earth elements, please refer to the U.S. Department of Energy’s latest report, which was released in July 2023: DOE Critical Materials Report - 2023