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NEW DELHI: China's growing rare earth mining activities in Myanmar may turn Beijing into a supply-chain hub for these minerals in the near future, according to analysts. ET Year-end Special Reads Stocks to buy in 2025: 66 ideas from top brokerages for your new year portfolio What does 2025 hold for India's IT services sector? 2025 may be the year of EVs in India, dominated by SUV launches Chinese customs data shows a 70% increase in imports of rare earth minerals from Myanmar during the first half of 2023. Analysts tracking China's rare earth sector said this surge reflects Beijing's stockpiling strategy, implying that China may be hoarding these materials to dominate supply chains in the future.
Chinese mining companies have expanded their operations in Myanmar's Kachin region, which has a concentration of rare earth minerals, especially around the towns of Panwa and Chipwe, adjacent to southwestern China's Yunnan province. Myanmar accounted for 11% of the world's rare-earth production in 2023, behind only China at 68% and the US at 12%, according to the US Geological Survey. ET has learnt that reserves of dysprosium and terbium--used in electric vehicles (EVs)--are concentrated in Myanmar and China.
But Myanmar does not possess refining capacity. "Myanmar's transformation into China's rare earth warehouse has been swift and devastating. The Kachin region, once known for its pristine forests and rich biodiversity, now resembles a lunar landscape, pockmarked with mining pits and processing facilities.
..," according to a recent report in The Irrawaddy, a leading media outlets covering Myanmar.
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