Rare Earths not so Rare in Mongolia

Mongolia as the new source for global REE (rare earth elements). China controlling nearly 95% of rare earth minerals production globally and the possibility of demand exceeding supply in the short to medium term provides a strong incentive for Japanese, US and European investment in Mongolia rare earth mining and the associated export infrastructure links. The Japanese and Mongolian governments recently announced their intention to jointly explore Mongolia’s large deposits of rare earths. The Japanese government has also set up a US$150 million fund to search for REE substitutes and to be used to help set up ventures to secure supplies from the US, Canada, Australia and Mongolia.

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