«Problems of economics and management of oil and gas complex»

Current state and prospects of the global market of rare earth elements in the energy sector

UDC: 669.85/86
DOI: -

Authors:

¹ National University of Oil and Gas "Gubkin University", Moscow, Russia
² Expert-Analytical Center, Moscow, Russia

Keywords: rare earth elements, resources extraction, reserves distribution, market concentration, structural imbalances, sustainable development

Annotation:

A stable global trend of increasing attention to rare earth metals is nowadays observed on the part of large corporations (Solvay, Hitachi Metals, REEcycle, Jiangsu Huahong Technology, "Gazprom" PJSC, "Tatneft" PJSC, State Corporation "Rosatom"). The authors of the article present a structural-economic analysis of the global market of rare earth elements (REE), including an assessment of the dynamics of reserves production and distribution for the period of 2019–2024. The authors identified and analyzed key trends, market imbalances and potential risks for global supply chains of rare earth metals. The economic aftereffects of the existing concentration of production and uneven development of the REE resource base for international economic security are upraised. Special attention is paid to the potential of large companies of the oil, gas and mining sectors to accelerate the development of the energy industry through production, financial resources and experience of major projects implementation.

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