The Chinese authorities have led to the creation of a new state-owned rare-earth company combining the activities of Ganzhou Rare Earth Mineral Industry Company, and a number of smaller local companies including Longnan Wanbao Rare Earth. The red clay hills
The Chinese government continues to restructure and modernize its rare-earths industry. In a move that Beijing describes as “promoting orderly development”, it will provide direct subsidies to revive struggling rare-earths producers – a tacit acknowledgment of the strategic importance of the industry.
“Overnight there were 200 companies suddenly marketing rare earths, from just five in 2009,” he said. “While large projects like Lynas‘s will still be viable, smaller projects will struggle, and a lot of those 200 companies will go away again.”
. Before the case actually goes in litigation at the WTO, China wants to justify its export quotas for rare earths, which have multiplied some of those metal prices by 10 times in the past 2 years. In its White Paper,
In this particular context of Chinese quasi-monopoly, the risk of an economic disaster is likely if this supply was to be put to the test. And this is precisely what has been happening for several years, and more explicitly since 2010.
To understand the stakes related to rare earths, we must address the myth of their rarity. Indeed, they are all more abundant than gold or silver in the earth’s crust, and their name actually reflects a relative rarity in minerals in
The stakes are significant: the rare earth elements have become key industries in developed countries, actors essentials of a multitude of industrial products, including applications designed to have their claims explode over the coming years, such as electric cars and
The Chinese government announced Monday the creation of an association of producers of rare earths, while being criticized by its trading partners for export restrictions of these essential minerals in high technology. The USA, EU and Japan have complained to
Declines in August and September pared a five-month, fourfold surge that brought the average price for eight of the most widely used rare-earth oxides to a record 396,850 yuan ($62,068) a metric ton in July, data from consultant Shanghai Steelhome