ABOUT THE CURRENT TRENDS OF PRODUCTION AND CONSUMPTION OF RARE EARTH COMMODITY

ABSTRACT

Global demand of rare-earth metals production in the last 20 years has the increasing trend. At the same time, according to modern demands of innovative industry, the intensive growth of consumption and production of rare-earth materials is observed. The analysis of publications and the Internet of sources shows that the world levels of consumption of rare-earth production reflects growth rate of economic development and national security for industrialized countries. Export of rare-earth products as a part of high-tech production is more favorable, than sales of raw minerals materials, and it provides the maximum profit to the developed states. Manufacture of rare-earth products reflects irregularity of geographical distribution of raw material resources. It affects directly to the corresponding indicators of the market. Results of the made analysis allow to get receive a clear answer to a question of relevance of consideration of prospects of development of the Arctic fields of rare-earth mineral raw materials, first of all for needs of the countries of Europe.

Keywords: rare-earth, manufacture, consumption, trends, Arctic