Turkey newly discovered rare earth for 10,000 years?Expert: Also consider mining costs

Chief reporter Zeng Lingyi

Intern Huang Xin

On July 5, foreign media reported that Turkey said it had a new discovery of 694 million tons of rare earth resources, and after processing, it may bring billions of dollars to Turkey to meet the world's demand for 1,000 years. This news has attracted widespread attention.

Lin Boqiang, dean of the China Energy Policy Research Institute of Xiamen University, said that the news needs to be further verified. On the one hand, the number of rare earth resources proposed in Turkish reports does not match the income it can bring. In addition, even if the data is true, Turkey needs to consider the environmental cost of mining rare earth. On July 5, China's rare earth price index was stable, which was not affected by the news.

Turkey's new discovery of rare earth resources is 694 million tons

On July 5th, according to overseas network reports, the Russian satellite news agency quoted the Turkish Daily that a large number of rare earth resources were found in Eskiehill, located in northwestern Turkey, which could meet the world's demand for 1,000 years.

The mining bed found in Eskiehill province contains about 694 million tons of rare earth. After processing, it may bring billions of dollars to Turkey. Mei Jing Chekinqi, a member of the Turkish Mining and Metal Exporters Federation, said that rare earth reserves discovered by Turkey were enough to meet the world's demand for 1,000 years. "This will create jobs for locals and young people."

A Indian media reports a new discovery of Turkey's rare earth resources

After the news was released by domestic media, it immediately attracted widespread concern. Turkey found that a large number of sparse land resources also immediately appeared on Weibo hot search.

Turkish Energy and Natural Resources Minister Fatih released the content of rare earth resources on social media on July 2

Jimu Journalists also saw on the official website of the Ministry of Energy and Natural Resources of Turkey that the government discovered 694 million tons of rare earth elements in the BEYLIKOVA region of Turkey's Eskiehir. Energy and Natural Resources Minister Fathe said that the drilling work began in 2011. After fully analyzing the collected samples, 694 million tons of rare earth elements were discovered. Fitti revealed that after the completion of the relevant R & D work, it is expected to start the construction of industrial facilities within the year, and the ultimate goal is to produce high value -added products. On July 2nd, Fatih's social media also released a content about Turkey's rare earth.

Public information shows that rare earth is the general term of 17 elements such as 镧 (LA), 铈 (CE), and 镨 (PR) in the element cycle. It is a unique and important industrial raw material. Car, large to missiles, submarines.

China has always been a large country for production and exports. China's recent report was released by the State Council in 2012. In 2012, the white paper of "China's Rare Earth Status and Policies" showed that China is the world's largest rare earth production, application and exporter, and provides more than 90%of the global rare earth smelting products market with 23%of rare earth resources.

According to the latest data from the US Geological Survey, global rare earth reserves in 2020 were 120 million tons, of which 44 million tons of reserves in China, accounting for 38%.

According to data released by the official website of the Ministry of Energy and Natural Resources, Turkey's rare earth reserves this time are equivalent to nearly 6 times the existing reserves of the world.

People in the industry question the accuracy of data

Some people in the industry expressed doubt about this data. Lin Boqiang, dean of the China Energy Policy Research Institute of Xiamen University, suspected that the data of 694 million tons may be mixed with rare earth and rare earth ore. It is mentioned in the report that Turkey is expected to bring billions of dollars to Turkey after processing these rare earth resources, and this data is inconsistent with the price of rare earth. The benefits of 694 million tons of rare earth cannot be only billions of dollars.

Rare earth price index monitored by the price monitoring agency business club

Jimu Journalists noticed that data from the China Rare Earth Industry Association shows that the rare earth resources of extensive transactions are divided into a variety of varieties such as carbonate, oxidation, and metal crickets. The price also ranges from 8 yuan/kg to 17,000 yuan/kg.

As the demand for rare earths has increased, the price of rare earth in China has risen year by year in recent years. However, after the announcement of Turkey, the price of rare earth has not had a significant impact on the prices of domestic rare earth.

According to data from price monitoring agencies, the prices of rare earths in China have gradually increased since 2011. On July 5, the price index of China's rare earth was 838 points, a decrease of 1 point from July 4. This price index has increased by 209.23%compared with the lowest point in 2015. In February 2022, this index also set a record of 1007 points.

China Rare Earth Industry Association shows that the price of different rare earth resources is different

Lin Boqiang also said that so many rare earth resources also involved the issue of mining and refining. Rare earth mining has a greater impact on the environment. When so many rare earth resources are mining, it is also a question of whether Turkey can be afforded by the cost of environmental costs.

On July 5th, Li Ying, an analyst of the rare earth industry in Shanghai Nonferrous Network, also told the media that if the news of Turkey is true, it is necessary to consider whether it can be mining, whether it has mining conditions, and technology and time.

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