A major find has been made in China, after announcing the discovery of a huge rare earth deposit in Yunnan province, with resources estimated at 1.15 million tonnes. This continues to strengthen the country’s strategic position in the critical minerals industry.
A large deposit of rare earths
The deposit contains medium and heavy elements such as praseodymium and neodymium , which are essential for the production of electric vehicles, wind turbines and defense systems. According to the Geological Survey of China , more than 470,000 tons of these essential minerals are present.
[post_relacionado]This discovery is part of a national initiative launched in 2023 to identify strategic resources such as lithium and helium . Yunnan now joins the map as a key region in the expansion of China’s rare earth resources.
Global production of rare earths is led by China, with a total of 44 million tonnes of known deposits. Recently, authorities have set limits on the production and export of these minerals, underlining their importance for national security.
In 2023, exports reached 55,431 tons, up 6% in volume, although the market value fell by 36%, according to customs data. These measures are part of the Regulation on the Administration of Rare Earths , which seeks to protect the country’s strategic interests.
This new deposit could intensify competition in the global technology industry, especially with the United States. By strengthening its hold on highly coveted resources, the country is securing its position in a market increasingly dependent on materials critical to technological innovation.
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Source: SCMP
Photo: Shutterstock