Cost Effectiveness Analysis of Rare Earth Element Supply Chain Policy

Abstract

The purpose of the research is to investigate and analyze the cost-effectiveness of alternative sources of rare earth elements (REM) in preparation for and in the early stages of a conflict in East Asia. This research explores the criticality of REM, their sources, and the factors that would inhibit their use during an East Asian conflict. This research is conducted by analyzing open-source scholarly, professional, and technical written research. Additionally, this topic is explored through analysis, policy, and law. This study employs cost-effectiveness analysis to explore the viability of three courses of action available to mitigate this shortage. After investigating these subjects at length, this research concludes that the current viability of supply chains that mine, transport, and process these materials would no longer be viable or reliable during conflict. This research further concludes that full-scale domestic production at all stages is the most cost-effective investment for this scenario. Additionally, this work highlights limitations and makes recommendations as well as suggests areas for future study.