Rare Earths Emerging as‘Critical’ Global Metals

Similar to the supply of tungsten, China controlled more than 90% of REE production, accounting for the majority of the country’s consumption and had, since the 1980s, become the sole provider of global rare earths.

Smith noted that the country had, since 2010, reduced its export quota by 40% to preserve local demand, as well as encourage local downstream production.

It had further promoted increased production efficiencies through the imposed mergers of smaller companies with larger companies in an effort to create ‘mega corporations’ with increased control over production and prices.

“In response to China’s strategy, we have observed a coordination of legal action, with Europe, the US and Japan bringing China before the World Trade Organisation.
 

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