On the 15th International Rare Earth Annual Conference held in Beijing on the 15th, people from the domestic and international business communities generally believed that the global supply of rare earths should be diversified rather than relying on China alone to support global rare earth demand as in the past.
China does not use less than 40% of the world's rare earth reserves to supply more than 90% of the world's rare earth needs. With regard to the diversification of the global supply of rare earths, corporate representatives from various countries participating in this annual meeting have a general consensus that the global supply of rare earths should be diversified and cannot rely solely on China as in the past.
Xu Xu, president of the China Minmetals Chemicals Import & Export Chamber of Commerce, also proposed that China is the world's largest rare earth resource country, but it is not the only country in the world that has rare earth resources. “We hope that rare earth resource countries will exploit their own resources in an appropriate manner and jointly assume responsibility for the global supply of rare earths.†Xu Xu believes that this is not only conducive to reconstructing a reasonable pattern of rare earth competition, but also conducive to the healthy development of the world's rare earth industries.
The famous rare earth industry expert Dudley Kingsnorth believes that the global rare earth development boom has taken shape. "Before 2020, the world will have the opportunity to exploit the profits." Kingsnorth predicts that by 2015, light rare earths produced in other parts of the world can basically meet the needs of the international market outside China, but the rate of satisfaction of heavy rare earths is only about 50%. .
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