China reminds world shock and ore can hurt tech supply chains
China has immense leverage over technology supply chains due to the happy accident that its territories contain most of the rare earths needed to manufacture electronics and batteries, and that it dominates industries that ready them for use.
The Middle Kingdom reminded the world of that fact after Australia's minister for resources, Madeleine King, on Tuesday delivered aChina has the largest rare earth reserves globally; the highest production of rare earth concentrates; and controls as much as 85 to 90 per cent of global production at various value-added stages of the supply chain.
King went on to note that in 2021 China produced 168 kilotonnes of rare earth oxide equivalent, while the next largest producer – the USA – produced 43 kilotonnes. China also dominates the rare earth magnet industry, producing 174 kilotonnes in 2021. The world's second most prolific producer, Japan, commands less than nine percent of the market.
"It is a fact that the scale of China's manufacturing and demand has played a key role in driving down the cost of crucial technologies like solar photovoltaics, batteries and electric motors," the minister said."But this level of supply chain concentration, regardless of where the concentration points lie, leads to significant vulnerabilities which have been all too apparent in recent years.
The minister called for diversification of rare earth supply chains. She noted that Australia is accelerating development of its own substantial deposits and talking to Japan, the United States, the United Kingdom, the European Union, the Republic of Korea, India"and many others" about how they can access them., King added that even with the initiatives described above, China will remain the planet's dominant source of all things rare earth.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Kioxia warns of potential cost of US chip policy over ChinaNice NAND industry you have there, would be a shame if something happened to it
Consulte Mais informação »
Cloud magic was a nice story, now with an unhappy endingThe world was promised 'cloud magic'. So much for that fairy tale
Consulte Mais informação »
Devastation as 'absolutely brilliant' dad-of-four, 40, dies 'out of nowhere''Everybody that met him loved him because he was always so kind and nice and just really nice guy. He was absolutely brilliant'
Consulte Mais informação »
'Nice try Grinch': Lincoln Christmas Market page recovered from hackerCouncil working to take 'The Grinch' who hacked the page off the nice list
Consulte Mais informação »
Macau, the Gambling Capital of the World, Gets a China-Backed Makeover'An empty shell of what it used to be': Asia’s gambling mecca gets a China-backed makeover
Consulte Mais informação »