The Mexican government to provide financial support for the rare earth exploration

Mexican Ministry of Economy will provide funds to support the exploration of rare earth mine . Importance of the application of rare earth elements in various industrial fields of green technology , defense systems, electronic products and high-tech fields such as growing. According to the National Geological Survey (SGM) Department expects 2016 global rare earth demand will reach 16 million tons, China 's production is expected to meet 80% of demand, with the balance being other sources to meet . The basic forecast and recent U.S. National Academy of Sciences and consistent with the forecasts of the EU, the two institutions also said the world may soon face a serious shortage of some of the major rare earth elements . Currently about 95 percent of the world's rare earths produced in China . Outside China , only two rare earth mines, a North Carolina company is located in Australia MountWeld mine, and the other is molybdenum in the Mountain Pass mine in California .

Mexico as the world's tenth largest oil producer is implementing the reform program proposed by the Government last year. Initial plans to abandon development of the domestic energy sector , seeking to boost local production of cheap energy industry . Mexican mining industry there are about 33.4 million people employed directly and indirectly employing 200 million people, is the country's fourth-largest industry revenue dollars , second only to cars, oil and electronics . Although rare earth ore reserves of Mexico is not yet clear, but the West Coast have these elements in its huge resources of the seabed . Although the possibility of land mines instead of deep-sea mining is unlikely , but would help alleviate the shortage of rare earth resource concerns .


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