China issued the first batch of economic data for October this week, including figures for the export of rare earths. Meanwhile, rare earth mining in neighboring Myanmar has reportedly come to a standstill, presumably because of an ongoing domestic conflict—the details and what else happened this week in our roundup.
Despite Export Controls: China Exports More Rare Earths
China launched a set of regulations regarding the export of rare earth elements in October. However, a decline or even temporary halt in exports, as was seen with gallium and germanium—whose export is tied to more stringent restrictions—has not happened with rare earths yet. Data from the Chinese customs authority show an increase of nearly 14 percent in the past month compared to September.
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Rare Earths: Mining Disruption in Myanmar Could Cause Shortages
According to the Chinese newspaper Global Times, there are signs of a potential shortage in the supply of rare earths from Myanmar. The state-affiliated newspaper reports that mining activities in the neighboring country are currently suspended. The background may be the ongoing conflict between the junta, which seized power in February 2021, and rebel groups.
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Lynas Officially Launches Kalgoorlie Rare Earth Processing Plant
Australian rare earth giant Lynas has officially launched its processing facility in Kalgoorlie, Western Australia. Last December, the plant began initial production steps and has now ceremoniously launched following a ramp-up in production. The plant will serve as a bridge between its mining operations at Mt Weld and its separation plant in Malaysia.
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MP Materials Reports Jump in Revenue, Overall Loss
MP Materials reports a 20% increase in revenue for the third quarter to $62 million compared to the same period last year. The U.S. company specializing in mining and processing rare earth elements attributes this revenue jump primarily to higher production volumes and stronger sales. However, despite these gains, the bottom line remains a loss, though it did decrease slightly year-on-year.
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Magnets: Neo Secures $50 Million to Advance Estonian Facility
Toronto-based Neo Performance Materials has secured up to $50 million in loans from Export Development Canada to advance the construction of its sintered rare earth magnet facility in Narva, Estonia. The plant is set to be completed next year with an initial annual production capacity of 2,000 tons of magnets.
To the article.