More or Less: Behind the Stats Is there really $500bn of Rare Earths in Ukraine?
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Mar 8, 2025 Ellie Sacklet-Vala, Head of non-ferrous metal pricing at Argus Media, dives into the contentious topic of rare earth minerals in Ukraine. She unpacks the myth that there’s $500 billion worth waiting to be accessed, revealing the complexities of extraction. The discussion highlights Ukraine's mineral wealth beyond just rare earths and the geopolitical implications tied to these resources. Listeners gain insight into the feasibility of claims surrounding these deposits and the critical challenges faced in harnessing their potential.
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Ukraine's Rare Earth Valuation
- The US demanded access to $500 billion worth of rare earths or metals from Ukraine during a military support debate.
- This claim raises questions about the actual availability and value of such resources.
Rare Earth Abundance
- Rare earth elements, despite their name, are not actually rare in the Earth's crust.
- Their extraction and processing, however, are complex and challenging, making access difficult.
China's Rare Earth Dominance
- China dominates the rare earth supply chain, giving them significant control over pricing.
- Developing new rare earth projects outside China is risky due to high costs and China's market influence.