AFRICAN mines could account for nearly a 10th of the world’s rare earths in five years, climbing from zero today, creating new players in a market dominated by China.
Eight mines in countries such as Tanzania, Angola, Malawi and South Africa are expected to start production by 2029 and contribute 9% of global supply, according to Benchmark Mineral Intelligence.
Most of this new supply could still be secured by Western and non-Chinese processing firms, the London-based industry consultant said in a new analysis. — Bloomberg