Industry News

The world’s second largest rare earth country is resurrecting

2018-07-19
In the mid-1960s to the end of the 1980s, the Mountain Pass Mine was once the world's largest source of rare earths, but it was shut down for five years between 2002 and 2007. Although the mining was resumed at the end of 2010, the scale is still not up to today. Big. But the molybdenum mine company has already said with ambitious that the company is fully operational and expects annual production to rise to 19,090 tons by the end of 2012, and production will double before the end of 2013.

The Mountain Pass Mine is adjacent to the Majove National Nature Reserve. According to its Molycorp company, the rare earth mine is the largest rare earth mine discovered outside China. The existing reserves of rare earth oxides are estimated to be about 960,000. Tons, the grade grade is 5%. If the annual output is 19,090 tons, the exploitable period will exceed 30 years.

The soaring prices caused by China's limited production will definitely be good news for rare earth companies in the short term, but in the long run, it may have a negative impact on the entire industry. “The price of rare earths may double the possibility of inhibiting the large-scale application of rare earths. High prices will encourage countries to develop rare earth alternative resources and technologies to reduce costs. A rare earth industry with a reasonable price and stable supply is the best.