REE World's Technology Metals Summit - 2012

Due to their unique magnetic, fluorescent and chemical properties, REE are used in science innovations. REE are key components in many technological devices, like hybrid rechargeable batteries, catalysts, glass, polishing, magnets, lasers, TV colour components, superconductors, ceramics etc. They are of great demand for hybrid cars, CD, cameras and high end defense systems. China is the largest producer (>97% of export of world) and has currently >50% of total global resource of REO (Rare Earth Oxides). Whereas USA has 11.8% and India 2.8% resource (mostly from beach sands). Apart from China, Lynas Corporation Ltd. has REE deposit at Mt. Weld, Western Australia and Molycorp at Mountain Pass, California, USA, in advance stage of production. It is in this context that the rest of world minus China organized the conference.