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A Simple Assessment of the Global Long Term Supply of the Rare Earth Elements by Using a System Dynamics Model

Kifle, Dejene; Sverdrup, Harald LU ; Koca, Deniz LU and Wibetoel, Grethe (2013) In Environment and Natural Resources Research 3(1). p.77-91
Abstract
Our simple dynamic-simulation model shows that the global supply of Rare Earth Elements is limited for meeting the future demands of new technologies. Unless improved recycling policies are adapted strategic elements may become scarce in the next half-century as a result of a “peak Rare Earths Elements” phenomenon. The model results also show that the market alone cannot solve the resource-inefficiency problem because the market’s instant and opportunistic nature impedes the long-term planning that is needed. Market mechanisms will only function if governments discourage wasteful practices by requiring recycling and long-term planning as conditions for the industry before the resource becomes too scarce. We conclude that technologies and... (More)
Our simple dynamic-simulation model shows that the global supply of Rare Earth Elements is limited for meeting the future demands of new technologies. Unless improved recycling policies are adapted strategic elements may become scarce in the next half-century as a result of a “peak Rare Earths Elements” phenomenon. The model results also show that the market alone cannot solve the resource-inefficiency problem because the market’s instant and opportunistic nature impedes the long-term planning that is needed. Market mechanisms will only function if governments discourage wasteful practices by requiring recycling and long-term planning as conditions for the industry before the resource becomes too scarce. We conclude that technologies and industrial capacity for effectively recycling Rare Earth Elements will be in demand, and that effective recycling policy should be put in place soon to make the supply sustainable over the long-term (Less)
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author
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
rare earth elements, sustainable supply of rare earth elements, recycling, long term supply, global supply, system dynamics modelling
in
Environment and Natural Resources Research
volume
3
issue
1
pages
77 - 91
publisher
Canadian Center of Science and Education
ISSN
1927-0496
language
English
LU publication?
yes
id
f93f309d-7bd4-4d0c-9a1e-7849a9ef3969 (old id 4812321)
date added to LUP
2014-11-23 21:39:37
date last changed
2018-11-21 19:37:00
@article{f93f309d-7bd4-4d0c-9a1e-7849a9ef3969,
  abstract     = {Our simple dynamic-simulation model shows that the global supply of Rare Earth Elements is limited for meeting the future demands of new technologies. Unless improved recycling policies are adapted strategic elements may become scarce in the next half-century as a result of a “peak Rare Earths Elements” phenomenon. The model results also show that the market alone cannot solve the resource-inefficiency problem because the market’s instant and opportunistic nature impedes the long-term planning that is needed. Market mechanisms will only function if governments discourage wasteful practices by requiring recycling and long-term planning as conditions for the industry before the resource becomes too scarce. We conclude that technologies and industrial capacity for effectively recycling Rare Earth Elements will be in demand, and that effective recycling policy should be put in place soon to make the supply sustainable over the long-term},
  author       = {Kifle, Dejene and Sverdrup, Harald and Koca, Deniz and Wibetoel, Grethe},
  issn         = {1927-0496},
  keyword      = {rare earth elements,sustainable supply of rare earth elements,recycling,long term supply,global supply,system dynamics modelling},
  language     = {eng},
  number       = {1},
  pages        = {77--91},
  publisher    = {Canadian Center of Science and Education},
  series       = {Environment and Natural Resources Research},
  title        = {A Simple Assessment of the Global Long Term Supply of the Rare Earth Elements by Using a System Dynamics Model},
  volume       = {3},
  year         = {2013},
}