Title : China Moves To Dominate The Rare Earths Market
link : China Moves To Dominate The Rare Earths Market
China Moves To Dominate The Rare Earths Market
Annie Fixler & Louis Gilbertson, FDD: China Consolidates Rare Earth Supply Chain
Peng Huagang, secretary general of China’ State-owned Assets Supervision and Administration Commission, confirmed last month that the Chinese Communist Party (CCP) will “promote the restructuring of rare earths to create a world-class company.” While it remains unclear what this “restructuring” entails, Peng’s declaration indicates the CCP will not stand by as the United States and its allies seek to diminish their reliance on China for rare earth elements.
Peng’s remarks come on the heels of China Minmetals Corporation’s September Shenzhen Stock Exchange filing, which announced a planned restructuring with China Aluminum Company (Chinalco) and the People’s Government of Ganzhou, a municipality in southeastern China. A merger would create China’s “second-largest rare earth producer by capacity,” according to Reuters, behind China Northern Rare Earth Group. The latter is the world’s largest supplier of rare earths.
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WNU Editor: I am not sure if China will succeed. The US can easily bust up this monopoly by guaranteeing to purchase rare earths only from Western producers at a set price and duration.
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