Countries such as Australia, the United States and Myanmar are unearthing enough of the valuable minerals that the world’s buyers need not rely solely on China, analysts said. Laos, Malaysia and Vietnam are starting to explore their own stores, as well.
“Foreign resource exploration and industrial development have accelerated,” China Northern Rare Earth Group, the country’s largest rare earth producer, said in its annual report released on Friday.
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China restricts critical metal exports following Western semiconductor curbs in latest trade war
China restricts critical metal exports following Western semiconductor curbs in latest trade war
“A complete industrial supply chain independent of China has begun to take shape,” said the Shanghai-listed firm, whose 2023 net profit plunged 62.6 per cent from the year before.
