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A rare-earth metal is one of a set of seventeen chemical elements in the periodic table. They have what many of us would consider to be relatively unknown names, like europium, promethium scandium and terbium. The uses, applications, and demand of rare-earth elements have greatly increased with our reliance on high-tech products. They are widely used in the production of electric motors for hybrid vehicles, wind turbines, hard disc drives, portable electronics, microphones, speakers and a whole array of other products. Around 90 per cent of the world's supply of REMs used to manufacture advanced electronics currently comes from China. The discovery near Japan could bring down prices.
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