Strategic Risk • 77
chain. And it is a safe bet that many supply chain managers do not grasp the
strategic risk presented by rare earth metals. While these metals are found
just about everywhere in the earth’s crust, they are found in volume in only a
limited number of commercially viable locations. Rare earth metals include
17 elements: 15 that are known as lanthanoids, plus scandium and yttrium.
ese elements are essential to defense products, such as missile guidance
systems, as well as high- technology products. Unfortunately, at one point
China controlled 97% of rare earth metal output around the globe. And the
country has shown a willingness to play favorites, especially to its own com-
panies. During a recent one- year period a rare ea ...