Balancing supply diversification and environmental impacts: A system dynamics approach to de-risk rare earths supply chain

Mosaab M. Hamed, Hasan Hüseyin Turan and Sondoss Elsawah

Resources Policy, 2024, vol. 92, issue C

Abstract: We introduce a System Dynamics (SD) model to examine policy measures aimed at diversifying the global supply chain of rare earth elements (REEs) and reducing reliance on China. Through meticulous simulation experiments, the paper evaluates the effectiveness of individual policies and their combinations (strategies) on enhancing the Rest of the World’s (RoW) market share, minimizing environmental impacts, and meeting the burgeoning demand for Neodymium—essential for green technologies such as electric vehicles and wind turbines.

Keywords: Rare Earth Elements (REEs); Neodymium; Mining environmental impacts; Supply Chain Management (SCM); Sustainable Development Goals (SDGs); System Dynamics (SD) (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:92:y:2024:i:c:s0301420724004057

DOI: 10.1016/j.resourpol.2024.105038

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