This master’s thesis deals with the importance of rare earth elements from economic, geopolitical, and security perspectives. The European Union faces significant vulnerability due to its dependence on rare earth elements, and despite various measures, such as diversification of supply along the value chain, it remains almost entirely reliant on external suppliers, primarily China. This concentration, or monopoly, poses a serious security risk and represents a major economic and strategic challenge for the EU’s future. Based on theoretical research, comparative indicator analysis, geo-economic theory, complex interdependence theory, and liberal theory of international relations, the thesis identifies and elaborates on the key factors that explain the strategic importance of rare earth elements and the link between rare earth elements supply and collective security of the EU. These factors are further analyzed through a case study of the war in Ukraine. The findings of the thesis demonstrate that rare earth elements are a strategic instrument and enabler for achieving security, economic, and geostrategic objectives. Furthermore, China's dominance in such a critical sector is not accidental but the result of the deliberate strategic policy of China. This demands a robust response from the EU which should include diversification of supply chains, establishment of domestic mining, processing and recycling capacities, and the development of strategic international partnerships.
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