Rare Earth Minerals

In the Auraverse, the demand for rare earth elements (REEs) has skyrocketed due to their widespread use in a wide range of advanced technologies. Space mining has become a major industry, as asteroids and other celestial bodies are rich sources of these valuable elements.
The three most valuable rare earth elements are neodymium, europium, and dysprosium. Neodymium is an essential component of powerful magnets used in many advanced technologies, including electric motors, wind turbines, and hard drives. Europium is used to create red and blue phosphors for color displays, such as those used in TVs and computer monitors. Dysprosium is used in high-strength magnets, as well as in nuclear reactor control rods.
Other valuable materials that asteroid miners would be searching for include platinum group metals (PGMs), such as platinum, palladium, and rhodium, which are used in catalytic converters, electronics, and fuel cells. Gold and silver would also be highly sought after for their monetary value, as well as for use in electronics and other applications.
Overall, rare earth elements and other valuable materials extracted from space mining would be crucial for the development and advancement of many technologies in the Auraverse, making space mining a highly profitable and essential industry.

History

After the world's economy almost collapsed after the discoveries of large quantities of Platinum, Gold, and other rare elements flooded the markets, it also ushered in an unpredendeted amount of manufacturing opporunities which were essential to Jumpstarting Earth's economy again for global industrialization. Large projects for megasteuftures such as space elevators, orbital rings, skyhooks, and space stations all began with this uptick in low cost rare earrh elements in what became known as the Industrial REEvolution.