The Turkish Ministry of Energy and Natural Resources recently announced on its official website that the government has discovered 694 million tons of rare earth elements in the Beylikova area of Eskisehir, Turkey. Energy and Natural Resources Minister Fatih said drilling began in 2011 and after thorough analysis of the samples collected, 694 million tonnes of rare earth elements were discovered. Fatih revealed that after completing the relevant research and development work, it is expected to start the construction of industrial facilities within this year, and the ultimate goal is to produce high value-added products.
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Then this news caused an uproar. After all, rare earths are known as industrial vitamins and are non-renewable strategic resources.
Geological experts said that rare earth mines are divided into light rare earth mines and medium and heavy rare earth mines. The global light rare earth mine resources are widely distributed, and the United States, Australia, China and other countries have production projects such as light rare earth mine mining, separation and smelting. Medium and heavy rare earth ore resources are mainly distributed in Southeast Asia and other regions, and the separation and smelting process is concentrated in China.
China is the only country in the world that can supply various grades and specifications of rare earth products in large quantities, and it is also the only country with a complete industrial chain of rare earths. Over the years, China’s rare earth reserves and production have ranked first in the world.
From the perspective of reserves, data from the US Geological Survey shows that the global rare earth reserves in 2020 will be 120 million tons, of which China’s reserves will reach 44 million tons, accounting for as high as 38%. In terms of output, according to Asian Metal statistics, the global rare earth output in 2021 will be about 277,000 tons, and China’s rare earth output will be 168,000 tons, ranking first in the world, accounting for 61%.
According to Turkey, Metin Chekinci, a board member of the Istanbul Minerals and Metals Exporters Association, said Turkey’s rare earth reserves could meet the world‘s needs for 1,000 years. After processing, it can bring billions of dollars in benefits to Turkey.
Experts said that the scale of rare earth elements discovered this time is indeed huge. However, China is the only country in the world with a complete rare earth industry chain and has mastered the most advanced rare earth mining and smelting separation technologies. my country’s rare earth industry advantages will not change in the short term, not to mention that the above information has not been fully confirmed, and it is also necessary to consider Whether it can be mined, whether it has mining conditions, technology and time.
The domestic rare earth supply system is also being further improved. At the 13th China Baotou Rare Earth Industry Forum held in December last year, Chang Guowu said that he should adhere to systematic thinking and enhance the supply guarantee capability of rare earth products. Appropriate and orderly release of rare earth prospecting and mining rights, intensify the exploration of the Bayan Obo Mine and medium and heavy rare earth resources, find out the resource reserves, expand the scale of resource recovery, make overall use of domestic and foreign resources, and further improve The management of the total amount of rare earth control indicators, and the management of the processing and utilization of imported ores and industrial waste containing rare earth resources.
CITIC Securities believes that with the vigorous development of downstream fields such as new energy vehicles, energy-saving motors, and industrial robots, global rare earth industry chain companies are actively promoting high-performance NdFeB expansion plans. However, due to factors such as incomplete rare earth industry chain and high comprehensive cost, the expansion of overseas rare earth permanent magnet production capacity may be less than expected, and the future supply of high-performance NdFeB depends on China. Under the “double carbon” goal, the rare earth permanent magnet industry is expected to usher in a golden age of rapid development。
