China has made new breakthroughs in Liangshan, Sichuan, with an anticipated increase of 4.96 million tons of rare earth resources. According to a representative from China Rare Earth Group, efforts will focus on resource integration and industrial collaboration to enhance industry control capabilities. There will also be a strong push to increase reserves and production, creating a new security framework for rare earth resource development and establishing a strategic base for rare earth resources and industries. Rare earths refer to 17 elements including scandium, yttrium, and lanthanides, known as "industrial MSG," and are crucial strategic minerals for China, which holds the world's largest rare earth reserves and is the top producer. Rare earths are widely used in aerospace, specialty materials, metallurgy, energy, and agriculture. Aohong, the party secretary and chairman of China Rare Earth Group, stated that the company will focus on breakthrough exploration actions, targeting resource expansion, increased reserves, production stability, supply assurance, cost reduction, and safety to enhance its core functions in safeguarding rare earth resources for national security. The total control target for rare earth mining by China Rare Earth Group for the first two batches in 2024 is 81,350 tons. Founded on December 23, 2021, in Ganzhou, Jiangxi Province, China Rare Earth Group is a diversified central enterprise directly supervised by the State-owned Assets Supervision and Administration Commission, formed through the restructuring of rare earth assets from China Aluminum Group, China Minmetals Group, and Ganzhou Rare Earth Group, along with the inclusion of China Steel Research and China Yuyuan Technology Group. The group engages in rare earth resource development, smelting separation, deep processing, and import-export trade across the entire industry chain, with operations spanning Jiangxi, Guangxi, Hunan, Sichuan, Jiangsu, Shandong, Yunnan, Guangdong, Fujian, and Southeast Asia, and includes publicly listed companies like China Rare Earth (stock code: 000831) and Guangsheng Nonferrous (stock code: 600259). China Rare Earth Group has significant resource reserves, primarily concentrated in heavy and light rare earths, with major deposits in Jiangxi, Guangxi, Guangdong, Hunan, Fujian, and Yunnan for heavy rare earths, and in Sichuan and Shandong for light rare earths.
Breakthrough! 49.6 Million tons!
2024 08/03