"Baotou Rare Earth Hi-tech Zone will try its best to build China’s “Magnet Valley”, accelerate the establishment of RMB 100 billion rare earth magnetic material industrial clusters, and promote the production of 27 magnetic materials projects such as Yunsheng Qiangqiang, Jinshan Magnetic Material Phase II and Zhongxin Antai. , Strive to exceed 35,000 tons of magnetic material production."
Won't be much, if any, NdPr escaping the Dragon's claws anytime soon.
What the dumb ass media, and the bulk of investment mkts, fail to understand is Baotou (Nth RE) are the ONLY competition to Lynas NdPr at scale.
Nth RE controls 60ktpa of the Dragon's 87ktpa LRE production quota with the balance spread across the other 5 SOE and very largely committed to their vertical mag makers.
Nth RE are late to the party but have received massive investment funds over recent years, incl a new 12ktpa magnetic metals plant opened last August.
They might produce ~13ktpa NdPr out of 60ktpa quota but plan to consume 12ktpa internally and have just signed a contract with Xiamen Tungsten to share perhaps another 500tpa, effectively the largest NdPr producer will have no material available to open mkts, and the other Chinese producers are 100/150t per month and largely directed to internal mag makers.
By contrast Lynas currently offers 6ktpa, and from early next year 7.2ktpa.
Who ya gunna turn to?
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