On June 4th, Bloomberg published an article titled "China's Rare Earth" Time Poison Bomb Boosts Global Rare Earth Mining Heat ". The report stated that China monopolizes 90% of the global rare earth market. In recent years, with increasing environmental pressure and the impact of the WTO rare earth dispute, China has begun to strictly control rare earth production and exports. The international market is facing tight rare earth supply, and prices have been continuously rising. Countries are turning their attention to places outside of China, leading to a global" rare earth mining boom ". Bloomberg predicts that the total investment in new rare earth mines in various parts of the world, except for China, may reach 12 billion US dollars.

1、 China's strict control of rare earth production has put pressure on the international market. In March of this year, the World Trade Organization ruled that China's rare earth export restrictions violated WTO rules. China plans to introduce new rare earth tax and management measures in the second half of the year. On May 21st this year, China Daily revealed that the new measures include taxation on rare earth producers and requiring exporters to issue environmental protection certificates, but these news have not been confirmed by the Chinese authorities. China's strengthening of rare earth control also has environmental considerations. Kevin Schultz, Vice President of Northern Mineral, said, "They (China) want to crack down on illegal mining and protect the environment.". Since 2010, China has restricted rare earth exports, and the international rare earth market reserves are about to run out. Currently, international prices are bullish, and it is expected that this round of increase may exceed 20%. Luisa Moreno, an analyst at the European Pacific Canada brokerage firm based in Toronto, said that the price of neodymium oxide used in wind power equipment has increased by 26% this year.

2、 Countries face numerous difficulties in searching for new rare earth mines, but their determination remains unchanged. The 17 rare metals contained in rare earths are widely used in high-precision and cutting-edge products such as Apple phones, Toyota hybrid cars, and cruise missiles in the United States, and their importance can be imagined. China's tightening control measures have forced countries to urgently seek new sources of supply. Currently, 18 companies are investing in rare earth mining outside of China, with a total project value exceeding 12 billion US dollars. These new rare earth mines are expected to be put into operation within 10 years. However, these projects have not been progressing smoothly. LYNASCorp. of Linus invested 930 million dollars to mine rare earths in Malaysia, and MOLYCORPINC of the United States developed new rare earths in the Mojave Desert of California. Both projects encountered problems such as mining output and price failure. Nevertheless, users from various countries, especially the US Department of Defense, are determined to develop new rare earth minerals. Because key components of cruise missiles and unmanned aerial vehicles in the United States use heavy rare earth elements, and heavy rare earth production requires sulfuric acid, which seriously pollutes agricultural land, the Chinese government has decided to restrict heavy rare earth production, forcing the United States to launch new heavy rare earth mining projects. UCOR Rare Metals Company (UCU), Namibia Rare Earth Company (NRE), and Hastings Rare Metals Company (HAS) have all discovered heavy rare earth mines outside of China. Regarding this, John Mair, General Manager of Greenland Mineral and Energy Company, stated that the rising production costs of rare earths in China and the diversification of rare earth supply in the international market are the trend.