SMM6, June 6 / PRNewswire-Asianet /-Lynas Corp., the world's largest supplier of rare earths after China, is the world's largest supplier of rare earths, Bloomberg reported. Pol Le Roux, vice president of rare earths, said that if Western rare earth companies want to continue to compete with Chinese companies in the industrial chain, they should pay attention to China's long-term strategy.
Le Roux says it will be difficult for western rare earth companies to compete with Chinese companies if they fail to take a long-term view, set long-term goals and focus only on quarterly results.
The move comes after US mining companies reduced their market share after a collapse in rare earth prices in 2011, while increasing US dependence on Chinese rare earths.
Jon Blumenthal, chief executive of Blue Line, a US rare earth company, said China pushed up prices of rare earths to an all-time high after announcing the first export quotas in 2011, prompting US companies to consider investing in factories. Increase the supply of rare earths in the United States. However, after China lifted restrictions on rare earth exports, the price of rare earths in the United States plummeted, causing miners to continue to wander. "related news-[focus] the advantage of China's rare earth resources stimulates the United States to find a way out may be difficult.
(note: this article is translated from Bloomberg. If copyright issues are involved, please contact SMM and we will deal with them in a timely manner.)
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