40% of the world's supply of rare earths from China illegal mining of rare earth

Since China says 40 percent of the market are from the illegal supply of rare earth rare earth mining since the rare earth industry personnel abroad are very worried, especially knowing that China will have to take action against this 40% after the illegal exploitation, to Australia RE expert Dudley Kingsnorth said: in 2020, consumption of rare earth permanent magnet industry accounted for 30% overall rare earth production, but at that time the world's supply of rare earths comes from China 70%, his question is: "If China put all the illegal exploitation of rare earths have hit out, then the Chinese how to make up for the lack of these illegal rare earth supply shortage arising? "Dudley Kingsnort references views China's rare earth industry experts said that although foreign companies and molybdenum Carolina has two rare earth enterprises However, China still accounted for in the world's supply of rare earth dominance, although there have been price crisis in 2010, China's rare earth supply by 2013 accounted for 95% of the world, fell to 2014 accounted for 90% of the world, but foreign rare earth supply crisis far from being resolved.

High-performance rare earth permanent magnet is currently the most important consumer market, but also the next five years, the most important consumer market

Rare-earth elements of neodymium, dysprosium, terbium, and praseodymium is used as an important element of the magnetic field important technology such as wind power, the use of the electric vehicle in the world.

China is not only an important supplier of these elements, while also providing permanent magnetic materials for companies such as Siemens and General Electric.

"China is rapidly reducing the illegal mining. Chinese government certainly does not like any undocumented mining activity takes place, because the illegal exploitation will generate a lot of waste, damage to the environment, while the impact of a large-scale mining companies as well as under the Chinese legal carefully selected and cultured RE generation international supplier interests.

China will have its own way outside the grounds of illegal mining of rare earth industry's dependence on the illicit origin may be ended prematurely or significantly reduced many. This begs the question of foreign trade are most concerned about: "Due to a lack of investment in the new global resources, once China's illegal rare earths to be eliminated, how to deal with the shortage of international buyers of rare earth supply?

 

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