[pyre]

> High prices isn't a signal that we have run out, it is a signal that more mines are needed. It is likely the market will heed the signal.

It is a signal that there is a high demand, and not enough supply (whether naturally or artificially -- e.g. diamonds) to meet that demand. That's it.

Building more mines can only happen if the resources exist to mine. This idea that "the market" is a magic wand to wave at problems really needs to stop. As far as "the market" is concerned, the electric car industry could collapse because it failed to innovate past resource shortages.

[xigma]

>> Building more mines can only happen if the resources exist to mine.

The resources do exist to mine. Only a tiny fraction of rare earth minerals are actually being mined, because it's not economical in most places.

[skybrian]

The article is not about rare earth metals.

[pjc50]

It's worth recalling the distinction between "reserves" and "resources": https://en.wikipedia.org/wiki/Mineral_resource_classificatio...

In a very real sense, we don't know how many undiscovered resources are out there, we can only estimate them. And the estimates move over time with technological improvement.