Rare earth mine discovered in one of China's least developed regions Sichuan province
Photo: SCMP/OpenStreetMap
The South China Morning Post on September 16 quoted information from the China Rare Earth Organization reporting the discovery of rare earth reserves of up to 5 million tons in Liangshan Yi Autonomous Prefecture in Sichuan province, one of the least developed regions in the country.
Rare earths are a group of 17 elements that play a key role in technology, from the production of electric cars to wind turbines, from robotics to the development of military weapons.
China is currently the world's leading producer of rare earths with reserves of 44 million tons, according to data from the United States Geological Survey (USGS).
China's dominance of rare earths is increasingly causing geopolitical tensions, especially between the United States and China, as the two countries push forward high-tech development.
The world's second-largest economy is restricting exports of rare earths, which China's Ministry of State Security said earlier this year were directly linked to the country's national security.
Economist Pan Helin, an adviser to China's Ministry of Industry and Information Technology, told China Securities Journal that the discovery of rare earth deposits in Sichuan will strengthen the country's resource advantage in the global rare earth market.
In the 2010s, China accounted for 80 to 90% of the world's rare earth production, before Beijing curbed it and reduced it to about 70% by 2023.
The China Rare Earths Organization was established in 2021 following the merger of three state-owned companies, and is considered by observers to be an important step in China's efforts to consolidate its position as a rare earth producer in the world.
Source: https://thanhnien.vn/trung-quoc-phat-hien-them-gan-5-trieu-tan-dat-hiem-185240916190340872.htm
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