Australia Tries to Increase Rare Earth Market Share

China exported only 3,966 tons of rare earths in June, down 26.8% year-on-year, which means that the structural changes in China's rare earth industry are still continuing, and the supply and demand situation of the rare earth market will also change. At the same time, Australia is trying to win more shares in the rare earth supply market.

In May of this year, Australian supplier Lynas reported the news of a rare earth separation plant with the US company Blue Line. Lynas is one of the few light rare earth producers outside of Chinese companies.

According to informed sources, Lynas intends to become the only large-scale medium and heavy rare earth producer outside the Chinese company by setting up a joint venture separation plant, and will expand the production scale of light rare earth products in the next few years.

However, it is worth noting that although Lynas is trying to expand its rare earth business, its original business progress has stalled. It is reported that Lynas will export the extracted radioactive waste to a processing plant in Malaysia for processing. The resulting 500,000 tons of waste will have a significant impact on the local groundwater and environment in Malaysia.

According to this month's news, Lynas's processing plant in Malaysia received complaints from a total of 88 local environmental organizations, and these organizations require Lynas to close the processing plant. Coupled with the review initiated by Malaysia, Lynas shares have fallen nearly 18%.rare earth industry image