"Secondly, the Western world deliberately blocked China's rare earth refining technology, so our country's rare earth refining technology is very poor, and the output is low. We don't even have enough for our own use, so of course we will stop exporting." Fei Chengyi said sarcastically, "You like to block technology, right? I'll use technology as an excuse not to export rare earths."
Besides, raw rare earth ore is nowhere near as valuable as refined rare earth.
Galaxy Mining Group is changing its rare earth business strategy and will no longer sell rare earth ore to external parties.
Galaxy Mining Group is not short of the foreign exchange earned from exporting rare earth ore.
The value of purified rare earth elements can increase several times over.
Xu Guangxian, a senior Chinese scientist known as the "Father of Rare Earths in China," devoted himself to the research of rare earth separation and purification technology starting in 1972. Faced with unprecedentedly difficult problems and strict technological blockades from Western countries, Xu Guangxian worked on this project for decades, conducting thousands of experiments.
At this time, Galaxy Mining Group had already invested in Academician Xu Guangxian's research on rare earth separation and purification technology, striving to accelerate the research and development of rare earth purification technology.
However, even after developing rare earth refining technology, Galaxy Mining Group will limit rare earth exports and purchase raw rare earth ore from abroad as much as possible. Although China has the world's largest rare earth reserves, it supplies 80% of the global market. At this rate, China's rare earth mines will be depleted in about a hundred years. Reserves of medium and heavy rare earth elements will only last for another 40 to 50 years. This means that by around 2040, China, once the world's largest producer of rare earths, may need to import them to meet its needs.
We can no longer sell rare earths cheaply as before; instead, we must protect rare earth resources.
At a press conference, Fei Chengyi, CEO of Galaxy Mining Group, reiterated that the company will gradually reduce the export of rare earth ore, and eventually stop exporting rare earth ore altogether.
"The United States, Russia, Brazil, and other countries are also major rare earth producers. I suggest that they reopen their closed rare earth plants. Why should they only consume our country's rare earth resources?"
Fei Chengyi sneered, "Nobody's stupid. You think you can deplete our country's rare earth reserves first? No way!"
Previously, there was no other choice. China lacked foreign exchange, and exporting rare earth ore was highly profitable, which is why it exported large quantities of rare earth ore.
However, now that China's national strength and economy have become very strong and its foreign exchange reserves are very high, China no longer needs to exchange rare earth minerals for foreign exchange.
The press conference ended shortly afterward.
Many foreign journalists and rare earth buyers left with regret.
Galaxy Mining Group, China's largest rare earth company, has stopped exporting rare earth resources, leading to a severe international shortage of rare earths and a trade collapse.
On that day, rare earth prices surged again.
Many companies are complaining and criticizing Galaxy Mining Group, and because American companies use the most rare earth elements, they are also the most vocal in their criticism.
However, Galaxy Mining Group dismissed these accusations.
The US lacks rare earth elements? You have rare earth mines of your own, why don't you mine them?!
Japan wants to buy rare earth elements? Get lost, go ask your dad! I'm not your father, why should I give them to you just because you say you want them?
Galaxy Mining Group remained unmoved. In its previous existence, the US, Japan, and Europe took advantage of China to exploit it. The result was that the high-quality single rare earth elements acquired and stockpiled by the US, Japan, and other countries could supply industrial production for at least 20 years. Developed countries' resource trading and production companies completely controlled international rare earth prices, while China's rare earth reserves rapidly declined.
Unfortunately, they can forget about having such good fortune again in this lifetime.
Galaxy Mining Group doesn't really intend to make money by selling rare earth mines. Once it achieves a breakthrough in rare earth refining technology, it might consider helping with rare earth processing. That is, you send us the raw rare earth ore, we process it, and then we sell it to you.
Currently, China's demand for rare earth elements is second only to the United States, but it is expected to far exceed that of the United States in the future.
The advantages of large scale will inevitably drive innovation in rare earth refining technology and reduce production costs. In the future, China's rare earth industry will have advantages in scale, technology, and cost. China will remain the center of global rare earth trade, with rare earth ore from all over the world being continuously shipped to China for processing.
...
Recently, stock markets in the United States, Japan, and other countries have all experienced sharp declines.
The lack of rare earth elements will inevitably lead to problems in the development of many technology industries.
Japan is poor in resources but has an extremely developed industry. However, Japan does not have many rare earth reserves, which is tragic.
The Japanese stock market is in turmoil.
Many Japanese companies are frantically buying up rare earth resources around the world.
However, many countries don't even have enough rare earth resources for their own use, so how could they possibly sell them to Japan?
It won't be easy for countries like the United States, Brazil, Russia, Australia, and Canada to restart rare earth plants in a short period of time.
Furthermore, countries like the United States will certainly reduce exports in order to protect their own rare earth resources.
Scarcity drives up value. The international price of rare earth elements in this life will undoubtedly be much higher than in the previous life.
Although Galaxy Mining Group does not export raw rare earth ore, its future market value will be extremely terrifying due to the mining areas it has acquired (including Bayan Obo and Yaoniuping, the former having the largest light rare earth scale in China, and the latter having the largest heavy rare earth scale among all deposits).
(End of this chapter)
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