Rare earths exports from China will cease someday — and we need to prepare, says Kingsnorth
June 1, 2016 — Professor Dudley J. Kingsnorth of Curtin Graduate School of Business and Executive Director of Industrial Minerals Company of Australia Pty Ltd was a presenter at the 5th Annual Cleantech and Technology Metals Summit held in Toronto.
In his presentation, Dudley Kingsnorth provided a wide-ranging and concerning view of the rare earths sector.
He is alarmed that China, through illegal mining and exporting, is squandering the best rare earths resources in the world and that, at some stage, the country will cease exporting these elements — and the rest of the world needs to prepare for that eventuality.
His presentation covered:
- The spectacular growth of the rare earth industry over the past 50 years, an achievement matched by few other metal commodities.
- The challenge that Lynas Corp has faced with falling rare earth prices and finding trained staff.
- How the low price and surplus of cerium may see its uses expand.
- A forecast for future and growth rates in rare earths demand.
- How China is progressing with its downstream rare earth expansion.
- China’s agenda for the future.
- Why the rest of the world had to play its part in helping China stamp out illegal production, and the need for an international standard for rare earths which would deter illegal miners.