Resumen de Rare earths markets challenged by supply-demand imbalance
Roskill analysis shows that an increasing proportion of Chinese supply is now required for consumption by domestic industries which account for more than 70% of the total demand for rare earths. "New projects in the rest of the world are forecast to contribute an additional 45,000 tpy rare earth oxides to supply by 2018," [Kerry Satterthwaite] said.
The research also shows that within China, illegal rare earths mining fell from 20,000 tonnes in 2012 to less than 15,000 tonnes last year. Satterthwaite makes the point that: "If illegal rare earths mining in China had already been eradicated, the world's rare earths industry would not have been in oversupply in 2013." Perhaps a rather sobering thought for the global rare earths industry as it approaches the end of 2014.
"The continuing focus on reducing illegal mining in China is expected to reduce illegal production by around 15% a year through 2018," Roskill's Satterthwaite said, outlining that much of the illegal production by this time will originate in southern China, with illegal production by northern and western rare earth producers dwindling.
