Rare earth miner set for $270m float in London Currently, around 95pc of all rare earth metals, which are components in modern technology such as iPhones and hybrid cars, are produced in the country. Rare Earths Global specialises in the extraction, separation, refinement and trading of rare earth elements, oxides and products, with a focus on the more valuable "heavy rare earth elements." These are said to be more expensive and highly sought after due to their unique properties and scarcity. One such element, dysprosium, has seen its price rise from $20 for 1kg in 2002 to $1,420 in January 2012, according to the company. Rare Earths Global said that it aims to increase extraction and production of these elements to satisfy increasing demand. Simon Ong, chief executive of Rare Earths Global, said: "This is an extremely exciting development for the group." "The board has identified a considerable opportunity to capitalise on the strong demand, and establish itself as one of China's leading mining services operators," he added.