• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 12 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days Does Toyota Know Something That We Don’t?
  • 5 days World could get rid of Putin and Russia but nobody is bold enough
  • 22 hours America should go after China but it should be done in a wise way.
  • 7 days China is using Chinese Names of Cities on their Border with Russia.
  • 8 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 8 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 8 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 7 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 8 days Putin and Xi Bet on the Global South
  • 8 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 9 days United States LNG Exports Reach Third Place
  • 9 days Biden's $2 trillion Plan for Insfrastructure and Jobs
Three Countries Hold 50% of the World’s Uranium Reserves

Three Countries Hold 50% of the World’s Uranium Reserves

Australia, Kazakhstan, and Canada are…

Iron Ore Prices Rise as China Ramps Up Imports

Iron Ore Prices Rise as China Ramps Up Imports

Despite challenges like the Evergrande…

Metal Miner

Metal Miner

MetalMiner is the largest metals-related media site in the US according to third party ranking sites. With a preemptive global perspective on the issues, trends,…

More Info

Premium Content

The West’s Rare Earth Rush Is Being Threatened By Ongoing Energy Crisis

  • The West’s race to reduce reliance on Chinese rare earths is facing headwinds.
  • Europe’s ongoing energy crisis has forced smelters and producers to shut down.
  • Ionic Rare Earths has just inked a deal with the UN to join the world’s largest corporate sustainability initiative.

Via AG Metal Miner 

  The Rare Earths MMI (Monthly MetalMiner Index) fell an additional 4.04% between September and October, less than half the decline seen the previous months. However, it does indicate that rare earth producers are still under pressure.

Rare Earth Supplies Rush in West Hindered by Energy Crisis

The West’s race to curb reliance on Chinese rare earth metals continues to hit energy-related snags. Europe’s power woes only seem to be getting worse as Russian troops retreat from Ukraine and Putin doubles down on gas restrictions. Not only do European citizens stand to suffer, but multiple smelters and metal producers have had to shutter their doors.

To make matters worse, China itself has not been immune to energy-related problems. Its property crisis and limited industrial output continue to strain its production capabilities. Meanwhile, supply chain problems make it harder for buyers to get what the country does manage to produce. Though the UK and US are diversifying, the process remains slow and only serves to incur China’s wrath.

Whatever happens in the short-term, many experts feel the results will turn out quite ugly, as this recent Financial Times article makes quite clear. We’ve already seen how weaning a country or region off a supply over-dependence can end in disaster. Now, we must consider whether China will play the same games as Putin.

United Nations Inks Partnership with Ionic Rare Earths

But all is not lost. Just yesterday, news broke that Ionic Rare Earths will join the UN’s Global Compact, the world’s largest corporate sustainability initiative. IRE already has a subsidiary in Belfast, UK, where it focuses on magnet recycling. However, the company is also dedicated to preserving human rights amid the “rare earth blitz,” along with utilizing innovation to solve complex sustainability challenges.

According to the IRE’s Managing Director, Tim Henderson, “The circular economy of rare earths will become increasingly more important over years to come. Demonstrating sustainable business practices…will create value for our stakeholders, positively impact the social development in Uganda, and empower industries to become carbon neutral.”

Related: Iranian Rial Plunges To Record Low

The company’s main project is in Makuutu, Uganda, which it describes as “similar to clay-type deposits” found in Southern China. This clay is a cheap and easily accessible source of heavy rare earth oxides. Also, the Makuutu continues to demonstrate increased viability.

China-Myanmar Situation Provides Insight into Chinese Tactics

Last month, MetalMiner reported how China’s rare earth mines in Myanmar were causing major problems for locals. These sites employ a chemical injection strategy that continues to contaminate water supplies and cause extensive pollution. The highly illegal mines sit adjacent to the Mali Hka and N’Mai Hka river systems. These rivers and their tributaries provide drinking water for millions. If tainted, the results could be catastrophic.

This should provide at least some insight into how China might play its cards when the West attempts to cut ties with rare earth suppliers. Many of the country’s mining conglomerates continue to show little concern for how their operations might affect the environment and local populations. As the scramble for rare earths intensifies, so too will the potential repercussions.   

ADVERTISEMENT

By The MetalMiner Team

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News