Foreign media said that China will soon lose its monopoly of rare earth

According to foreign media reports, China's largest rare earth company decided to suspend production for a month last week to increase the market price of 17 rare earth elements. Rare earth is an indispensable key raw material for many modern technology products, and China's possession in the international rare earth market is almost an elusive monopoly. But on the other hand, many countries are increasingly dissatisfied with China's manipulation of rare earth supply, and China's monopoly position may soon cease to exist.

Deng Xiaoping said in 1992 that "there is oil in the Middle East and rare earth in China." Since then, China has vigorously developed rare earth resources, and currently 95% of the world's rare earth supply comes from China. In China's total rare earth production, more than 60% of the rare earths are produced by Inner Mongolia Baotou Steel Rare Earth Hi-Tech Company.

In recent months, the price of rare earths on the international market has fallen by about 20%. Last week, Baotou Steel Rare Earth Company said that the company will temporarily suspend production for one month to stabilize market prices and balance supply and demand imbalances.

The UK Geological Survey recently compiled a list of international chemical element supply and demand risks for 2001, which lists which elements are subject to significant risks and which elements are essential to the international economy.

The article quoted Bradworth, the head of the agency, as saying that although some countries also have rare earths, a key issue in the development of rare earths is that the cost of separating rare earth elements from ore is relatively high, making companies in other countries abandon this field. “China can separate rare earth elements from rare earth ore at a lower cost than anyone. For a long time, the price of rare earths in China has been declining, causing some rare earth companies in other countries to close down, so that we are seeing such a The situation, on the one hand, is that Chinese companies almost monopolize the entire market; on the other hand, the demand for rare earths is growing."

But what is different now is that many countries in the world are taking measures to keep themselves from being controlled by China.

Japanese companies such as Toyota and General Motors of the United States have been studying how to use rare earth elements as little as possible. "The rare earth elements are generally highly replaceable, so companies in electronics can gradually change the production process and use them sparingly," said Fosalini, an expert in rare earth research.

Bradworth, of the British Geological Survey, said that it is not necessary for several companies in other countries to invest in rare earth production to change the situation that depends on China. “Compared with industrial metals, the amount of rare earths is absolutely negligible. Last year, the world’s only copper mines were more than 17 million tons, while rare earth mines were only thirteen or forty thousand tons. Developing two new rare earth mines will make the whole situation completely different."

Currently, the United States, Russia and Australia are planning to develop new mines. In addition, some rare earth mines that were previously abandoned due to feasibility considerations are currently being put into production. For example, under the strong impact of Chinese products, California's Morley Mining Company was forced to shut down its rare earth mines in 2002. The company currently says it plans to develop newly discovered rare earth deposits and is expected to become one of the world's largest rare earth suppliers in 2014.

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