China rare earth exports drop by 23% in April

(AF) Official data published on Golden 19 show that China’s exported a total of 3,737.2 tons of rare earths in April, a drop of 22.9% from March.

Given China’s influence in the rare earth industry, the United States, Japan and other countries worry that if China’s rare earth exports are being reduced, and global supply may be affected to varying degrees.

According to Sina Finance’s latest report on May 18, Britain’s Hypromag company is planning to recover rare earth magnets from old computer hard drives and other discarded electronic product parts.

Once the project is successfully implemented, it will not only contribute to environmental protection, but will also become part of the British rare earth supply system. The UK is exploring how to establish a national reserve for rare earth metals to ensure local supplies and reduce its dependence on China’s rare earths.

Meanwhile, Pensana, a British rare earth supplier, has also begun to develop and establish a rare earth metal supply chain. It plans to spend US$125 million (approximately 800 million yuan) to build a sustainable rare earth separation plant.

The company’s chairman Paul Arthur said that the rare earth processing plant is not only expected to become the first new large-scale separation facility in more than a decade, but also to become one of the only three major producers in the world outside China.

In addition to the United Kingdom, other economies such as the United States, Japan, and the European Union also plan to build their own rare earth production facilities.

A report by the London Polar Research and Policy Initiative (PRPI) suggested out that the ‘Five Eyes’ intelligence network that includes the United States, the United Kingdom, Canada, Australia and New Zealand should consider cooperating with Greenland, which has abundant rare earth reserves, to reduce the risk of rare earth shortfall.

According to incomplete statistics, as of now, the United Kingdom, Australia, and Canada have obtained 41 mining permits in Greenland, accounting for more than 60% of the total.

However, Chinese companies have already deployed companies and personnel to develop rare earths on the island in advance through investment and other means.

China’s leading rare earth company, Shenghe Resources, won no more than 60% of the assets of a large rare earth mine in southern Greenland in 2016.

But recently, citizens in Greenland voted to stop mining activities altogether due to concerns about negative environmental impacts.