China to raise production of rare earth materials to 10% above 2018’s record high
Move will likely weigh on prices and deal a blow to rivals, particularly the US and Australia
25 November 2019 - 19:04
Surging rare-earth production in China is presenting a new challenge to budding efforts in the US and elsewhere to undercut the Asian giant’s dominance in a market for exotic materials used in everything from smartphones to fighter jets.
China said earlier in November it was raising its annual mining quota for rare earths to 132,000 tons, 10% above 2018’s record high. It is a move likely to weigh on global prices, dealing a blow to rivals including the US and Australia, countries that agreed just last week to jointly accelerate new projects in a push to diversify the supply chain...
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