The HC Commodities Podcast Elements of Influence: Yttrium, Rhenium and Graphite with Ellie Saklatvala
Aug 19, 2025
In this engaging discussion, Ellie Saklatvala, Head of Metals Pricing at Argus, dives into the fascinating world of critical minerals, focusing on Yttrium, Rhenium, and Graphite. She reveals how Yttrium’s strategic importance shapes modern technology and geopolitics, while addressing the challenges around its supply chain. Ellie also explores the complex dynamics of Rhenium production and the volatility of market pricing. Finally, she highlights Graphite's essential role in the electric vehicle boom and the urgent need for a sustainable supply chain amidst rising global demand.
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Yttrium’s Strategic, Non-Magnet Role
- Yttrium is a non-magnet rare earth with broad civilian and military uses, notably in LEDs, ceramics and thermal coatings.
- China dominates production and processing, creating strategic global dependence.
Tight Ore Geography Creates Fragility
- Yttrium and medium/heavy rare earths require specific iron-absorption clay deposits concentrated in southern China and Myanmar.
- Those ore routes are geopolitically fragile and hard to substitute.
Environmental Costs Hinder Diversification
- Rare earth extraction and separation use acids and solvents and historically caused severe local environmental harm.
- Environmental cost makes Western project approvals and diversification politically difficult.