India Makes Rare Earthy Pitch To Rival China

Arial image of Mountain Pass RE mine in California.
The mine was recently reopened after closing in 2002.

NEW DELHI (DNA) -- India might emerge as one of the countries that can challenge China’s rare earths (REs) hegemony. China overviews 97% of RE production; however, US Geological Survey estimates that China has half of the world’s reserves at 55 million tons (MTs). Forecasts show that the currently estimated world consumption of 136,000 tons/year is likely to grow to 185,000 tons/year by 2015. Based on current estimates, the US has 12% (13MTs) of global reserves, Australia (1.6 MTs), and Commonwealth of Independent States (19 MTs). Latest Indian government statistics show that India may have 9% (10.7MTs) of global RE reserves. India used to be the world’s leading RE producer in the 1950s, followed by the US through the 1960s and 1980s. Source:  DNA special: India makers rare earthy pitch to rival China (Reliability: Medium)

Comment: As a consequence of Chinese export restrictions on REs, some countries are likely to reopen their RE mines, which were closed down because of low-cost Chinese production. This will results in higher costs compared to Chinese domestic production; however, foreign companies do not have to worry about the theft of their trade secrets in China.