Rare earth elements are not called “rare” because they are scarce in terms of quantity but rather because they are typically dispersed widely in the Earth’s crust and are not found in concentrated deposits like more common metals. Extracting and refining these elements is challenging and environmentally taxing, contributing to their rarity in practical applications. Additionally, geopolitical factors and limited production outside of a few countries can further restrict their availability. Despite their name, rare earth elements are not actually rare but are difficult to obtain in economically viable concentrations, making them seem scarce.
