No, rare earth metals are not “rare” in the sense of being scarce in the Earth’s crust; they are relatively abundant, often more so than metals like gold.

The name is a misnomer because they are difficult and costly to extract and process. This is because they are rarely found in concentrated deposits, but are widely dispersed and mixed with other minerals.
Abundance: Many rare earth elements are as abundant as common metals like copper or nickel.

Extraction challenges: It is difficult to extract them because they are not found in high concentrations in any single location. They are usually found mixed together or with radioactive elements, making separation costly and energy-intensive.

Supply chain issues: The mining and processing of rare earths are concentrated in a few countries, particularly China, which can lead to supply chain vulnerabilities.