Discovered in 2016, the rare earth elements are essential for the manufacture of medical equipment, smartphones, laptops, crude oil processing, batteries for electric vehicles, and wind turbines. Code named ‘The Makuutu Rare Earths Project’, the project derives its name from Makuutu Sub-County in Bugweri District where the mineral was discovered.
The unparalleled decline is staggering in both its scale and swiftness, with serious potential implications for energy security and clean energy transitions. At the start of 2020, global energy investment was on track for growth of around 2 per cent, which would have been the largest annual rise in spending in six years.
Oil and gas are fossil fuels and the International Renewable Energy Agency, an intergovernmental organisation that was created to promote a sustainable energy future has stepped up its fight against the use of fossil fuels.