Fact Check: "China produces roughly 60% of the world's rare earth supply and processes almost 90% of it."
What We Know
China's dominance in the rare earths market is well-documented. According to a report from the Center for Strategic and International Studies (CSIS), China extracts approximately 60% of the world's rare earths. This figure, while down from around 90% in 2008, still places China significantly ahead of other countries in terms of production. Furthermore, the same report states that China processes nearly 90% of global rare earths, highlighting its critical role in the supply chain. In 2023, China produced around 70 kilotons of refined rare earths, further solidifying its position as the leader in this sector (CSIS).
Additionally, a report from Mining Technology confirms that China accounted for over 69% of global rare earth production in 2023, and it also processes nearly 90% of the world's rare earth elements. This processing capability is supported by China's vast reserves and advanced refining technologies, which have been developed over decades (Mining Technology).
Analysis
The claim that China produces roughly 60% of the world's rare earth supply and processes almost 90% of it is supported by multiple credible sources. The CSIS report provides a comprehensive overview of China's production and processing capabilities, noting that while the percentage of production has decreased since 2008, China remains the dominant player in the market. The report also emphasizes China's significant technological advancements in processing rare earths, which have allowed it to maintain a competitive edge.
Moreover, the Mining Technology article corroborates these figures, stating that China's production accounts for over 69% of global output while processing capabilities are close to 90%. This consistency across reputable sources enhances the reliability of the information.
However, it is important to note that while these figures are widely accepted, they can vary slightly depending on the source and the year of reporting. For instance, the 60% figure from CSIS is a rounded estimate, and other reports may cite slightly different percentages. Nevertheless, the overarching consensus is that China maintains a commanding lead in both production and processing of rare earths.
Conclusion
Verdict: True
The claim that "China produces roughly 60% of the world's rare earth supply and processes almost 90% of it" is accurate based on the evidence presented. Multiple credible sources confirm China's significant role in the rare earths market, both in terms of extraction and processing capabilities. The slight variations in percentages do not detract from the overall truth of the claim.
Sources
- Understanding China's Global Rare Earth Power Leverage ... (https://english.ckgsb.edu.cn/knowledge/article/china-dominance-of-rare-earth-and-impact-on-global-market/)
- China's rare earths dominance in focus after it limits germanium and ... (https://www.reuters.com/markets/commodities/chinas-rare-earths-dominance-focus-after-mineral-export-curbs-2023-07-05/)
- China currently controls over 69% of global rare earth production (https://www.mining-technology.com/analyst-comment/china-global-rare-earth-production/)
- www.baidu.com_百度知道 (https://zhidao.baidu.com/question/820968371071599172.html)
- China currently controls more than 69% of global rare earth ... (https://mine.nridigital.com/mine_feb25/china-rare-earth-production)
- 中国的英文简写可否写成P.R.China - 百度知道 (https://zhidao.baidu.com/question/931596837932574499.html)
- Rare earths: production share by country 2024| Statista (https://www.statista.com/statistics/270277/mining-of-rare-earths-by-country/)
- 【收藏】香港各大银行代码Swift Code、编号Bank Code ... (https://zhidao.baidu.com/question/1523602984495893020.html)
