Major discovery in China of a Rare Earth deposit of 470,000 tonnes in Yunnan.
After the record discovery in Tibet of a mine of 30 million tonnes of lithium, China will once again be able to enjoy itself with the announcement of the discovery of an enormous deposit of rare earths Honghein Yunnan province, promising to significantly strengthen the national rare earth industry with an estimated reserve of more than 470,000 tonnes.
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An exceptional deposit for the rare earth industry in China
According to a press release from the China Geological Survey (CGS)this new deposit could provide a significant source of minerals such as praseodymium, neodymium, dysprosium and terbium, with an estimate of over 470,000 tonnes of these highly demanded minerals. This ion-adsorption type deposit is a major discovery in Chinese resource exploration, similar to that first made in 1969 in Jiangxi province.
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Environmentally friendly exploitation and extraction
Ion-adsorbing rare earth ores are found naturally concentrated and absorbed on the surface of clay minerals, often found in weathered granite soils. This type of deposit allows relatively easy extraction through environmentally friendly methods, such as ion exchange, which facilitates access to these valuable resources without damaging the surrounding ecosystem.
Estimation of the value of the discovery in Yunnan
The discovery of a significant new deposit containing approximately 470,000 tonnes of praseodymium, neodymium, dysprosium and terbium would represent considerable euro value, given the high demand and high prices for these rare earths. To estimate the approximate value of the discovery we will base ourselves on the average value of these elements:
- Praseodymium: $41.30/kg of oxide
- Neodymium: $42.41/kg of oxide
- Dysprosium: $272/kg of oxide
- Terbium : Around $1,709.5/kg in 2021
Taking a conservative average of $500/kg for these four elements combined, and assuming that the deposit contains oxides rather than pure metal, we can estimate: 470,000,000 kg X $500/kg = $235 billion
-Which gives us 216.2 billion euros in euros. It should be noted that this value is theoretical and does not take into account extraction and processing costs, nor price fluctuations. Furthermore, the introduction of such a quantity on the market could significantly affect the global prices of these rare earths.
Strengthening strategic dominance over China's rare earths
The CGS underlined the importance of this discovery to strengthen China's strategic dominance in rare earth resources (which had 70% of the world's reserves in 2023), by improving the entire rare earth industrial chain and by consolidating its position as a world leader in this crucial sector. The announcement follows a particularly successful 2024 for China in terms of mineral discoveries, including the discovery of two new minerals at the Bayan Obo mine and a large gold deposit in Pingjiang County.
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This article discusses the discovery in China of a rare earth deposit that could potentially transform the world industry with the 470,000 tonnes discovered. This discovery not only strengthens China's position as a dominant player in the field of rare earths but also highlights the growing importance of these minerals for various advanced technologies and for the global energy transition.
Source : China Geological Survey (CGS)
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