GE Vernova Works With U.S. to Boost Yttrium Stockpiles Amid Global Shortage

Gas turbine manufacturer GE Vernova is partnering with the U.S. government to strengthen its stockpile of yttrium, a critical rare earth element facing global shortages due to China’s export controls. CEO Scott Strazik said on Tuesday that while the company currently has enough yttrium to last through 2025 and into next year, concerns remain as supply constraints intensify across the energy, aerospace and semiconductor sectors.

Strazik noted that GE Vernova, one of only three major gas turbine makers worldwide, is also investing in alternative materials that could replace select rare earths if required. However, he acknowledged potential cost and performance trade-offs with such substitutions. Despite the challenges, the company aims to remain “opportunistic” in expanding inventory whenever possible, emphasizing that the global shortage has become a daily priority.

China, the world’s primary source of yttrium used in high-temperature-resistant alloys and turbine coatings, imposed export restrictions earlier this year in response to U.S. tariffs. Although Washington and Beijing have since agreed to a faster export approval regime, industries dependent on yttrium report severe supply strains, with prices outside China soaring by 4,400% between January and November.

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