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Wednesday, Jul. 22, 2020

Does China control 95% of the world’s market for rare earth metals?

Samuel Henning, Gigafact Foundry
no

Increased production in Australia and the U.S. has reduced the world's dependence on China for rare earth metals, which are used extensively in electronics and in oil refining. As recently as 2011, China supplied 95% of the world's demand. The U.S. relied on China for 80% of imports from 2015 to 2018.

China holds about 37% of the world's reserves of exploitable rare earth elements, with Australia, India, Russia, Vietnam and Brazil also holding large deposits.

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