China published the second batch of April export data this week, showing plummeting germanium shipments. Meanwhile, the Russian oil giant Rosneft entered the rare earth industry through the acquisition of the Tomtor deposit, the largest in the country—the details in our roundup.
Chinese Germanium Exports Plummet in April – Gallium More Stable
China’s customs authority released the second batch of April export data on Tuesday, revealing a sharp decline in germanium shipments. Exports fell 93% month-on-month to just 98 kilograms, a drop not seen since the summer of 2023 when Beijing first imposed export controls on both germanium and gallium. Gallium exports, in contrast, showed signs of recovery.
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Rosneft Takes Control of Russia’s Largest Rare Earth Deposit
Russia’s biggest oil producer, Rosneft, has acquired the country’s largest rare earth deposit, Tomtor. The deposit in the remote Yakutia region in Russia’s Far East could become a key asset for Moscow’s ambitions to become a global leader in rare earth production. Last November, President Putin criticized delays at major sites like Tomtor and called for greater investment.
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Rare Earths Made in France: LCM Invests €110 Million in New Plant
Less Common Metals plans to build a new production facility in Lacq, France. The British manufacturer of rare earth metals and alloys intends to invest €110 million in the project. The region could become a major rare earth hub, as a subsidiary of French company Carester is already planning a facility for recycling and refining rare earths there.
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IEA: Diversifying Raw Material Supply Chains Progresses Slowly
Despite efforts to diversify raw material supply chains, concentration is increasing, especially in refining and processing, the IEA reports in its Global Critical Minerals Outlook. In 2024, the top three producers held 86% of the market for key minerals, up from 82% in 2020. China remains dominant despite some diversification. While supply for some minerals may meet demand by 2035, risks remain, particularly from slowed exploration investment and rising trade barriers.
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Gold, Silver, Antimony: Stibnite Mine in Idaho Receives Final Permit
The U.S. government has granted final approval for the Stibnite Mine in Idaho, where Perpetua Resources plans to extract gold, silver, and antimony. The project is one of several critical mineral ventures selected to benefit from accelerated permitting processes to strengthen domestic supply security.
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