As an indispensable and important raw material in many fields of modern science and technology, the application and importance of rare earth are constantly improving, it can be said that rare earth has become the food of modern science and technology, and can be called the core in many fields such as artificial intelligence, chip semiconductors, aerospace and so on.
We are the only one in the world that has mastered the most advanced rare earth technology, and we are the only one with a full range of rare earth technology, from mining to finishing. It is for this reason that Malaysia, which wants to mine its local rare earth deposits in the near future, wants to seek cooperation with us and is looking forward to building a rare earth refinery in Malaysia.
According to a report by Singapore's Straits Times, Malaysia intends to develop local rare earth deposits worth up to 1 trillion ringgit, equivalent to about 1.5235 trillion yuan, and will send senior officials to China at the end of April to discuss relevant cooperation in depth, hoping to obtain our rare earth processing technology.
Rare earth is actually the general name of 17 elements such as lanthanides and scandium and yttrium in the periodic table, and there are a total of 250 kinds of rare earth minerals in the world, which were first discovered in 1794 and are mainly divided into two kinds of light rare earths and heavy rare earths.
With the development of global science and technology, rare earths also have important applications in more and more fields, but only we have a complete rare earth industry chain in the world, and there are American experts who believe that China's rare earth technology is ten years ahead of the world. From the perspective of market share, more than 70% of the world's rare earths come from Chinese companies, which can be said to have a very huge market influence.
In August 2023, we officially restricted the shipment of germanium and gallium, two rare earth metal materials, according to the survey data of the US media, since the export control came into effect, we have hardly shipped any germanium and gallium materials to the US market, and the share of shipments to the Japanese market is only one-third of the previous one.
The United States and the West have always been very dependent on our rare earths, which has led to the fact that after we restricted the shipment of germanium and gallium, the United States could only meet the needs of domestic related industries by recycling gallium in waste. It is for this reason that the United States has been seeking new channels for rare earth shipments around the world.
First, the United States, together with Australia and other allies, has formed a so-called "rare earth alliance", but it is still unable to meet local demand due to the lack of relevant technology.
Second, the United States has tried to cooperate with other countries with rare earth deposits, and has previously signed a so-called rare earth cooperation treaty with Mongolia, but it also failed because of technical problems.
This time, Malaysia wants to mine local rare earth deposits, but also faces the embarrassing situation of lack of relevant equipment and advanced technology, and it is precisely for this reason that Malaysia wants to seek cooperation with us in rare earth technology. Our mature and advanced rare earth processing technology and industrial chain can help Malaysia to mine local rare earth mineral deposits, which will also promote Malaysia's rapid economic development.
However, it is worth noting that Malaysia's rare earth export plan may affect the current global rare earth pattern, and even solve the situation of the United States and Western countries relying on our rare earths.
Judging from the current situation, if Malaysia cannot obtain cooperation with us in rare earth technology, it will not be so easy to mine local rare earth deposits alone, not to mention that there are various smelting, finishing and other processes in the future. Due to the influence of various factors, we also need to consider comprehensively to promote the healthy development of the global rare earth market while protecting our own interests.
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