New Plant Opened to Combat China’s Stranglehold on Global Supply for Rare Earth Metals

Reuters reported that in an effort to combat China’s s dominance on rare earth metals global supply, Kazakhstan’s state nuclear company and Japanese trading house Sumitomo Corp opened a new plant.

As quoted in the market report:

Summit Atom Rare Earth Co, a joint venture between Kazatomprom and Sumitomo, will produce 1,500 tonnes a year of rare earth oxides at a $30 million plant in the north of the Central Asian republic. Japan will be its biggest market.

To view the whole Reuters report, click here.