Increased offshore exploration for rare earth minerals is challenging China's long-held position as the primary global supplier.
Via Metal Miner Ramped-up offshore exploration for rare earth metals and minerals, vital components in sought-after products like hybrid vehicles and smartphone screens, continues to cut into China ’s long-held position as the primary global supplier. Countries like Australia, the United States , Myanmar, and even nations like Malaysia, Vietnam, Uzbekistan , and Kazakhstan continue to increase their extraction efforts.
On the other hand, some experts claim that Uzbekistan sits on the second-largest reserves of CRMs in the region. If true, that country’s decision to invest in CRM development is very wise. In fact, many analysts claim it will not only help Uzbekistan’s own economic growth, but also provide stiff competition to China.
Uzbekistan United States EU China Rare Earths Critical Minerals
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