I recently received an email wanting me to invest in a company holding the rights (so they said) to rare earth in Greenland.
The email said that formerly rare earth was only present in China and that the Chinese state has bought or taken over all the companies which own concessions for mining of rare earth in China and that the Chinese government is going to hold the rest of the world to ransom, since rare earth elements are necessary for producing long endurance batteries and other components for hybrid or purely electrical motor vehicles.
Websites from the US Geological Survey state that 90% of REE (rare earth elements) used in the US now come from China, which would tend to reinforce what that investment email was saying (it was pushing shares in a Greenland company with REE mining concessions as an alternative to China).
Is it true that hybrid or purely electrical automotive vehicles cannot work without RE elements?
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