The Chinese mainland's China Rare Earth Group Co., Ltd., a state-owned enterprise, announced on Saturday a significant breakthrough in mineral exploration. This achievement marks a pivotal moment in the global supply chain for rare-earth elements.
Experts at a recent symposium and midterm evaluation highlighted the group's progress in Liangshan Yi Autonomous Prefecture, located in Sichuan Province. The Chinese mainland projects an impressive increase of 4.96 million tonnes in rare-earth oxides output, underscoring its commitment to expanding its resource base.
Looking ahead, the group plans to accelerate the establishment of a new security framework aimed at developing the country's rare-earth resources. This strategic move is designed to create a robust stronghold in the rare-earth sector, essential for various high-tech industries.
Rare earths, which comprise 17 elements, are vital in numerous applications including aerospace, special materials, metallurgy, energy, and agriculture. The increased output is expected to bolster these industries, driving innovation and economic growth both domestically and internationally.
Reference(s):
cgtn.com
