Two Ministries and Commissions Issued the third batch of rare earth mining, smelting and separation total control indicators in 2023 Notice

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Two Ministries and Commissions Issued the third batch of rare earth mining, smelting and separation total control indicators in 2023 Notice

Release Time:

2023-12-18

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On December 14, 2023, the Ministry of Industry and Information Technology and the Ministry of Natural Resources issued a notice on the issuance of the third batch of total control indicators for rare earth mining and smelting and separation in 2023: the third batch of total control indicators for rare earth mining and smelting and separation in 2023 were 15,000 tons and 13,850 tons, respectively (detail as below, excluding the indicators of the first two batches that have already been issued).In 2023, the total control indicators for rare earth mining and smelting and separation were 255,000 tons and 243,850 tons, respectively, The total control targets for rare earth mining and smelting separation in 2023 are 255,000 tons and 243,850 tons respectively.

Since 2015, the mining and separation indicators of light rare earth have increased year by year (Picture 1), and the average compound growth rate of mining indicators from 2015 to 2023 is 11.7%, and the average compound growth rate of smelting and separation indicators is 10.4%. Especially since 2020, in order to meet the demand for praseodymium and neodymium in the new energy industry, the growth rate has gradually accelerated, and the average compound growth rate of mining indicators in 2020-2023 is 18.2%, and the average compound growth rate of smelting and separation indicators is 15.9%.

Picture 1. 2015-2023 Statistics of mining and separation indicators of light rare earth and heavy rare earth in China (tons)

The increment of China's light rare earth mining indicator is mainly concentrated in China Rare Earth Group (which has experienced two mergers since 2015 to 2021, and the shares of related enterprises before 2021 were merged into China Rare Earth Group) and China North Rare Earth Group. In recent years, the average compound growth rate of China rare Earth Group's mining indicator from 2020 to 2023 is 4.9%, and the average compound growth rate of China North Rare Earth Group's mining indicator is 24.8%. The increment of mining indicator is mainly concentrated in China North Rare Earth Group (picture 2).

Picture 2 Light rare earth mining indicator (tons) of China Rare Earth Group and China North Rare Earth Group from 2015 to 2023

Rare earth mining, smelting and separation indicator increment of 2023 is still concentrated in light rare earths, light rare earth mining indicator of 2023 increased by 45,000 tons or 23.6%, smelting and separation indicator increased by 41,850 tons or 20.7%. The mining indicator of heavy rare earths has been stable at 19,150 tons since 2018, and the quota indicator is divided between Xiamen Tungsten Industry Co., Ltd. and Guangdong Rare Earth Industry Group Co., LTD. (picture 3).

Notes:

China RE:China Rare Earth Group Co., LTD.

Northern RE: China Northern Rare Earth (Group) High-tech Co., LTD.

Xiamen Tungsten: Xiamen Tungsten Industry Co., LTD.

Guangdong RE: Guangdong Rare Earth Industry Group Co., LTD.

Data sources:

Ministry of Industry and Information Technology of People's Republic of China

Ruido Metal : https://www.ruidow.com/