CRITICAL MINERALSRare Earth Elements in Turkey: Emerging Prospects
Turkey discovered the world’s second-largest deposit of rare earth elements (REEs) in 2022, with an estimated reserve size of 694 million tons, making it the world’s second largest REEs deposit after China’s reserves of 800 million tons. China accounts for 60 percent of the worldwide REEs mined production, 85 percent of the world’s REEs processing capacity, and 90 percent share of the manufacturing of high-strength rare earth permanent magnets.
Turkey discovered the world’s second-largest deposit of rare earth elements (REEs) in the Beylikova district of Eskisehir in 2022. With an estimated reserve size of 694 million tons, the discovered rare earth element deposit ranks second-largest globally.1 China currently holds the top position with its rare earth element field boasting a reserve of 800 million tons. China dominates the global landscape of rare earth minerals, contributing significantly to various stages of their production and processing. Specifically, China holds a commanding position by accounting for 60 percent of the worldwide rare earth mined production, 85 percent of the rare earth processing capacity, and 90 percent share in the manufacturing of high-strength rare earth permanent magnets.2
Significance of Rare Earth Elements
As per the U.S. Geological Survey (USGS), REEs or rare earths consist of 17 distinct metallic elements, encompassing scandium and yttrium, as well as the lanthanide series, which includes 15 elements—lanthanum, cerium, praseodymium, neodymium, promethium, samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, and lutetium.3 They play critical roles in various modern industries and technologies, including electronics, magnets, batteries, catalysts, and lighting.
REEs are indispensable for a wide range of defense technologies. These include targeting lasers, precision-guided munitions, communication systems, aerospace engines, airframes, radar systems, optical equipment, electronic countermeasures and sonar.4 REEs are vital components in these technologies, providing enhanced precision, efficiency and capabilities for defense operations. Despite the complexities involving the extraction and processing of REEs, its increasing demand is driven by technological advancements and the quest for renewable energy.
The anticipated growth in the demand for critical minerals, which play a vital role in clean energy and other technological applications, is expected to be substantial in the forthcoming decades. Therefore, in June 2022, the United States and several partner countries introduced the Minerals Security Partnership (MSP) 5 , aimed at strengthening critical mineral supply chains. The primary objective of the MSP is to ensure that critical minerals are extracted, processed, and recycled in a manner that maximizes the economic
