Recently, there has been a concern over the short supply of a group of elements called rare earth metals. Why?
- China, which is the largest producer of these elements, has imposed some restrictions on their export.
- Other than China, Australia, Canada, and Chile, these elements are not found in any country.
- Rare earth metals are essential for the manufacture of various kinds of electronic items, and there is growing demand for these elements.
Select the correct answer using the code given below:
- 1 only
- 2 and 3 only
- 1 and 3 only
- 1, 2 and 3
Explanation
Statement 1 is correct
- In past years, China has imposed export restrictions and quotas on these elements, citing national security and environmental concerns, leading to significant disruptions and supply uncertainties in global markets
Statement 2 is incorrect
- Rare earth elements occur in many countries, including India, the United States, Brazil, Russia, and Vietnam. The issue is not their absence but the limited economically viable extraction and processing capacity.
Statement 3 is correct
- REEs are widely used in electronics, magnets, batteries, wind turbines, electric vehicles, and defence technologies, leading to rising demand.
