Raw materials giant China published export data this week and issued the second batch of rare earth quotas. The output is slightly above last year’s figures. In other news, supply chains from South to North America continue to make progress.
China: Gallium and Germanium Exports Developing Differently
Exports of gallium and germanium from China continue to develop differently. As a reminder, export restrictions have been in place for both technology metals since August 2023. Export licenses are required to ship the raw materials abroad. For July 2024, the Chinese customs authority reported a new record for gallium, while exports of germanium remain at a low level.
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China Issues Second Rare Earth Quotas for 2024 – Output Up 5.9%
The Chinese Ministry of Industry and Information Technology (MIIT) published the second batch of rare earth mining and refining quotas for 2024 on Tuesday. The mining quota is set at 135,000 tons plus 127,000 for smelting and separation operations. The total mining output for 2024 is now set at 270,000 tons, an increase of 5,9% compared to 2023. The total smelting and separation quota stands at 254,000 tons.
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Rare Earths Value Chain From South to North America Taking Shape
America’s value chain for rare earths continues to take shape. Meteoric Resources, which is developing the Caldeira project in the Brazilian state of Minas Gerais, wants to have its raw materials processed in the United States. A letter of intent has been signed with the Canadian company Ucore Rare Metals, which plans to construct a processing plant in Louisiana that uses a self-developed separation method.
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Iluka Resources: Profit Decline – Eneabba Refinery on Track
Australian mining company Iluka Resources, which specializes in titanium, zirconium, and rare earths, posted a profit of $90 million (AUS$134 million) for the first half of 2024, a decline of over 34 percent compared to the same period last year. The company cites macroeconomic uncertainty that would weigh on the prices of Iluka’s products.
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