At the 7th International Rare Earth Development and Application Conference and the 2nd China Rare Earth Summit held in Ganzhou, Jiangxi—a city known as the birthplace of heavy ion-based rare earths—leading experts from around the world emphasized the importance of responsible and sustainable rare earth development. They called for a global effort to ensure a stable and diverse supply chain, which is essential for the long-term health of the industry.
Benzi Li, president of the European Union Rare Earth Industry Association, highlighted that it makes sense for countries to produce rare earths where they are needed, rather than relying on distant sources. “Local resources should not always be seen as out of reach,†he said, stressing the need for more localized production and supply chains.
Nigel Tana, president of Metals at the UK-based company, noted that a diversified supply system is already taking shape, with growing participation from Western producers. He pointed out that increased output from projects like the Mountain Pass mine in the U.S. and the Wild Mountain project in Australia is helping to stabilize the market, especially for light rare earth elements.
Lin Donglu, secretary general of the Chinese Society of Rare Earths, revealed that China currently holds over 90% of the global rare earth market share. While this dominance has driven up resource consumption and environmental pressure, he argued that expanding the number of suppliers can ease the burden on China and promote a fairer, more balanced market.
He also mentioned that with a more diversified supply, China can focus more on environmental protection and addressing illegal mining practices. A stable and fair pricing system, supported by multiple sources, would ultimately benefit the entire industry.
In 2011, rare earth prices surged dramatically, creating instability in the global market. Since then, the sector has experienced a prolonged downturn, but recent price rebounds have brought some hope. However, Ma Rongji, secretary general of the China Rare Earth Industry Association, warned that rising prices alone cannot compensate for shrinking demand and weak trading activity.
Nigel Tana added that rebuilding market confidence could take years. As governments worldwide recognize the strategic importance of rare earths in high-tech and military sectors, many are now investing in their own supply chains. According to a report by TMR, over 429 rare earth projects across 37 countries are currently in various stages of exploration, evaluation, or resumption.
Despite these efforts, Banzi Li noted that most new projects are focused on light rare earths, leaving a gap in the supply of medium and heavy rare earths, which are more critical for advanced technologies.
Zeng Tianyuan, a Chinese rare earth expert, pointed out that while few projects will significantly impact the global market in the next few years, even modest diversification helps reduce reliance on a single source.
Experts predict that China’s share of global rare earth production and exports may drop from 90% to 70% or even 50% in the coming years. This shift, they believe, would be beneficial for both the world and China, promoting sustainability and international cooperation.
Zeng emphasized that China aims for a more balanced and sustainable global market, urging nations to work together. Tana echoed this sentiment, stating that stable prices are crucial for all stakeholders. With continued efforts from resource-rich countries, a diversified supply chain and stable pricing could become a reality in the near future.Tree-hugging lamp
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