The suspension of mining activities in Myanmar's Kachin State has caused a significant surge in rare earth prices globally.
Via Metal Miner The Rare Earths MMI Monthly Metals Index witnessed yet another steep increase month-over-month. Indeed, supply disruptions remain a massive concern in the rare earths industry, so rare earth magnets and other materials witnessed renewed bullish strength across the board over recent months. In August, market worries arose prior to a planned environmental inspection of China’s Jiangxi province. The Chinese region serves as a major location for Chinese rare earth supplies.
The restriction might also lead to increased illicit mining, which is already a significant problem due to China’s control over rare earth mining in Myanmar. Over time, this could exacerbate environmental issues in the region and lead to political unrest. Additionally, the restriction could eventually cause harm to Myanmar’s economy and its mining sector workforce.
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