Caixin
Nov 15, 2022 06:04 AM
BUSINESS

China’s Top Rare Earth Mining Company and Top Refiner Fight Over Prices

China has the world’s largest deposits of the 17 closely related rare earth metals.
China has the world’s largest deposits of the 17 closely related rare earth metals.

Inner Mongolia Baotou Steel Union Co. Ltd., the world’s largest rare earth mining company, is still pressing for a significant price increase from its only customer even though the buyer’s shareholders rejected two previous proposals.

Higher prices for Baotou Steel Union’s output of the key materials for green technologies could lead to a broader price increase for the minerals, raising costs for makers of electronics, clean energy devices, aerospace, automotive and defense goods. China has the world’s largest deposits of the 17 closely related rare earth metals.

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