Contribution of Rare Earth Elements Is Key to the Economy of the Future
<p>GVA sector.</p> "> Figure 2
<p>Rare earth elements’ market behavior.</p> "> Figure 3
<p>Dysprosium, Europium, Neodymium, and Terbium prices.</p> "> Figure 4
<p>Q–Q plot of standardized residuals for Model 1.</p> "> Figure 5
<p>Q–Q plot of standardized residuals for Model 2.</p> "> Figure 6
<p>Q–Q Plot Standardized Residuals Model 3.</p> "> Figure 7
<p>Plot of residuals vs. predicted values. (<b>a</b>) Model 1, (<b>b</b>) Model 2, (<b>c</b>) Model 3.</p> ">
Abstract
:1. Introduction
- Prospecting: This stage consists of searching for rare earth element deposits.
- Exploitation: This stage consists of extracting rare earth elements from deposits.
- Concentration: This stage consists of the concentration of rare earth elements.
- Purification: This stage consists of the purification of rare earth elements.
1.1. Theoretical Framework
Dy | Ho | Er | Tm | Yb | Lu | Sc | Y | |
---|---|---|---|---|---|---|---|---|
Permanent Magnets | ✗ | |||||||
Ceramics | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ||
Batteries | ✗ | |||||||
Construction Materials | ✗ | ✗ | ✗ | ✗ | ✗ | |||
Lasers | ✗ | ✗ | ✗ | ✗ | ✗ | |||
Aircraft Alloys | ✗ | |||||||
Optical Glasses | ✗ | ✗ | ||||||
Catalysis | ✗ | ✗ | ||||||
Magnetism | ✗ |
1.2. Contribution of Rare Earth Elements to the Sectors of the Economy
2. Materials and Methods
2.1. Data Source and Variables
Symbology | Variable | Measurement | Variable Type |
---|---|---|---|
Y1 | Primary Gross Added Value | Log (% Total GDP) | Explained-Endogenous |
Y2 | Secondary Gross Added Value | Log (% Total GDP) | Explained-Endogenous |
Y3 | Tertiary Gross Added Value | Log (% Total GDP) | Explained-Endogenous |
X1 | Rare earth elements’ exploitation | Log (Metric Tons) | Explanatory-Exogenous |
X2 | Employment generated by rare earth elements | Log (Annual average) | Explanatory-Exogenous |
X3 | Domestic consumption of rare earth elements | Log (Metric Tons) | Explanatory-Exogenous |
X4 | Import of rare earth elements | Log (Metric Tons) | Explanatory-Exogenous |
X5 | Dysprosium | Log (Average Price) | Explanatory-Exogenous |
X6 | Europium | Log (Average Price) | Explanatory-Exogenous |
X7 | Neodymium | Log (Average Price) | Explanatory-Exogenous |
X8 | Terbium | Log (Average Price) | Explanatory-Exogenous |
X9 | Trade restriction | Dummy | Explanatory-Exogenous |
2.2. Econometric Model
3. Results
4. Discussion
5. Conclusions
Author Contributions
Funding
Data Availability Statement
Conflicts of Interest
References
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La | Ce | Pr | Nd | Pm | Sm | Eu | Gd | Tb | |
---|---|---|---|---|---|---|---|---|---|
Permanent Magnets | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | |||
Ceramics | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ |
Batteries | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | |||
Construction Materials | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ||
Lasers | ✗ | ✗ | ✗ | ||||||
Aircraft Alloys | |||||||||
Optical Glasses | |||||||||
Catalysis | |||||||||
Magnetism |
Country | Production (Metric Tons) |
---|---|
China | 210,000 |
United States | 43,000 |
Australia | 18,000 |
Myanmar | 12,000 |
Thailand | 7100 |
Vietnam | 4300 |
India | 2900 |
Russia | 2600 |
Madagascar | 960 |
Brazil | 80 |
Malaysia | 80 |
Variable | N | Mean | SE |
---|---|---|---|
Primary GVA (Y1) | 33 | 0.304 | 0.078 |
Secondary GVA (Y2) | 33 | 3.020 | 0.015 |
Tertiary GVA (Y3) | 33 | 4.355 | 0.005 |
Exploitation (X1) | 33 | 9.232 | 0.127 |
Employment (X2) | 33 | 5.270 | 0.101 |
Consumption (X3) | 33 | 9.272 | 0.079 |
Import (X4) | 33 | 9.335 | 0.073 |
Dysprosium (X5) | 33 | 5.313 | 0.144 |
Europium (X6) | 33 | 6.410 | 0.285 |
Neodymium (X7) | 33 | 4.031 | 0.152 |
Terbium (X8) | 33 | 6.755 | 0.112 |
Trade restriction (X9) | 33 | 0.152 | 0.364 |
Variable | Model 1 (Y1) | Model 2 (Y2) | Model 3 (Y3) |
---|---|---|---|
Intercept | −3.896 (0.823) *** | 1.854 (0.357) *** | 4.678 (0.039) ** |
Exploitation (X1) | 0.346 (0.077) *** | 0.021 (0.014) ** | |
Employment (X2) | 0.302 (0.075) *** | ||
Consumption (X3) | 0.061 (0.017) *** | −0.028 (0.005) *** | |
Import (X4) | 0.032 (0.027) ** | ||
Dysprosium (X5) | −0.211 (0.092) *** | 0.013 (0.004) *** | |
Europium (X6) | 0.281 (0.086) *** | 0.034 (0.019) *** | −0.007 (0.004) *** |
Neodymium (X7) | 0.196 (0.115) *** | −0.022 (0.015) *** | |
Terbium (X8) | −0.307 (0.129) *** | −0.013 (0.005) *** | |
Trade restriction (X9) | 0.088 (0.085) * | 0.045 (0.058) ** | 0.012 (0.013) *** |
Fit | Model 1 (Y1) | Model 2 (Y2) | Model 3 (Y3) |
---|---|---|---|
R2 | 0.896 | 0.884 | 0.919 |
RMSE | 0.161 | 0.032 | 0.009 |
Tolerance (Colinearity) | *** | *** | *** |
VIF (Colinearity) | *** | *** | *** |
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Cuadros-Muñoz, J.-R.; Jimber-del-Río, J.-A.; Sorhegui-Ortega, R.; Zea-De la Torre, M.; Vergara-Romero, A. Contribution of Rare Earth Elements Is Key to the Economy of the Future. Land 2024, 13, 1220. https://doi.org/10.3390/land13081220
Cuadros-Muñoz J-R, Jimber-del-Río J-A, Sorhegui-Ortega R, Zea-De la Torre M, Vergara-Romero A. Contribution of Rare Earth Elements Is Key to the Economy of the Future. Land. 2024; 13(8):1220. https://doi.org/10.3390/land13081220
Chicago/Turabian StyleCuadros-Muñoz, Juan-Ramón, Juan-Antonio Jimber-del-Río, Rafael Sorhegui-Ortega, Michelle Zea-De la Torre, and Arnaldo Vergara-Romero. 2024. "Contribution of Rare Earth Elements Is Key to the Economy of the Future" Land 13, no. 8: 1220. https://doi.org/10.3390/land13081220