Current National Policy on rare and Precious Metals and Industrial Development [Conference on small Metals]

Published: Oct 19, 2021 09:46 (GMT+8)
Source: SMM

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At the 2021 small Metal Industry Summit hosted by (SMM) of SMM Information & Technology Co., Ltd., Zhao Wuzhuang, a specially appointed expert from China Nonferrous Metals Industry Association, introduced the current national rare and precious metals policy and industrial development. Zhao Wuzhuang said that with the promotion of the human new technological revolution and the spring tide of industrial change, rare and precious metals play a prominent role in economic and social development and become important strategic resources. Especially since the beginning of the new century, the European Union, the United States and other developed economies have successively listed some rare and precious metals as key raw materials or key minerals, promoted to the height of national strategy, and used national strength to ensure the safety of the industrial chain supply chain. further highlight the status of these rare and precious metals.

Current National Policy on rare and Precious Metals and Industrial Development

With the promotion of the human new technological revolution and the spring tide of industrial change, rare and precious metals play a prominent role in economic and social development and become important strategic resources. Especially since the beginning of the new century, the European Union, the United States and other developed economies have successively listed some rare and precious metals as key raw materials or key minerals, promoted to the height of national strategy, and used national strength to ensure the safety of the industrial chain supply chain. further highlight the status of these rare and precious metals.

At present, the world is facing great changes not seen in a century, and the international struggle is unprecedentedly fierce. In order to meet the challenges of the United States and other economies, as a major producer of rare and precious metals in the world, China has also formulated a national strategic mineral resources policy to ensure the safety of the supply chain of important rare and precious metals industry chain.

I. National Strategic Policy on rare and Precious Metals

According to the national industry division standard, the scope of rare and precious metals is:

Precious metals: gold, silver, platinum group metals (including ruthenium, rhodium, palladium, osmium, iridium, platinum);

Rare earth metals: tungsten, molybdenum, rare earth (including lanthanum, cerium, praseodymium, neodymium, lanthanum, samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, lutetium, scandium, yttrium), tantalum, niobium, lithium, rubidium, cesium, zirconium, hafnium, beryllium, vanadium, rare earth (including gallium, germanium, selenium, indium, tellurium, thallium, thallium), potassium,

In the national industry division standards, tin, antimony, cobalt, cadmium and bismuth are commonly used non-ferrous metals.

The current national strategic precious metals are gold, lithium, zirconium, tantalum, niobium, beryllium, rhenium, tungsten, molybdenum, vanadium, rare earth, indium, germanium and gallium. Tin and antimony are also current national strategic mineral resources.

The basic principles for the state to ensure the safety of the supply chain of the strategic mineral resources industry chain are as follows:

First, adhere to classified guidance and accurate implementation of policies;

The second is to adhere to the overall planning and utilization of resources;

Third, adhere to innovation-driven and coordinated promotion;

Fourth, adhere to open cooperation and bottom line thinking.

II. The Development of rare and Precious Metals Industry in China

China is a big producer of rare and precious metals in the world. The output of rare and precious metals such as gold, selenium, tellurium, indium, germanium and gallium ranks first in the world, and the output of common non-ferrous metals such as tin and antimony also ranks first in the world. The main output of rare and precious metals in 2020 is as follows.

The gold output is 479.5 tons and the consumption is 821 tons, which can not meet the need for large imports. The output of selenium is 1779 tons and the import volume is 1454 tons. The output of tellurium is 490 tons and the export volume is 250 tons. The output of indium is 588 tons and the export volume is 110 tons. The output of germanium is 112 tons and the export volume is 29 tons. The output of gallium is 363 tons and the export volume is 90 tons. Tin production is 160000 tons, accounting for 46.89% of the world's total. Antimony production is 11.5 tons, accounting for more than 80% of the world's total.

The development strategy of rare and precious metal enterprises: first, tamp the guarantee of resources. The second is to promote transformation and upgrading. Third, efforts should be made to expand its application. Fourth, strengthen risk prevention and control. Fifth, enhance competitiveness.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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