Rare Earths Deposits in China Forecast to Last 15-20 Years

Bloomberg reports that according to the Ministry of Commerce, China’s medium and heavy rare earths reserves may last 15 years to 20 years at the current rate of production.

The market news is quoted as saying:

Domestic rare earths deposits dropped to 27 million metric tons by the end of 2009, or just 30 percent of the world’s total known reserves, from 43 million tons, or 43 percent of the world total, in 1996, Chao Ning, section chief of foreign trade at the ministry said at a Beijing conference.

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