SMM News on March 28: At 14:20 on the afternoon of March 28, a strong earthquake with a magnitude of 7.9 on the Richter scale suddenly occurred in Myanmar (located at 21.85 degrees north latitude and 95.95 degrees east longitude). According to reports from relevant departments, the depth of the earthquake's epicenter reached 30 kilometers, demonstrating its immense power.
It is worth mentioning that just before this earthquake, the Kachin regional government had officially approved the import of long-term inventory rare earth ore from the Longchuan area. These rare earth ores were accumulated and stored after legal mining in the Longchuan area. As for newly produced rare earth ores, there is currently no official news or announcement.
Mine owners in the Longchuan area assessed the impact of this earthquake. According to their feedback, although the earthquake had a high magnitude, its epicenter was relatively far from the mining area, so it did not directly affect road transportation in the mining area. Currently, normal transportation activities in the mining area are still proceeding in an orderly manner. This also means that, based on the current situation, this earthquake is not expected to have a new impact on the supply of rare earth ores in Myanmar.
However, considering the various uncertainties that the earthquake may bring, especially in such a geographically close location to the mining area, SMM will continue to monitor the subsequent market situation of Myanmar's mines to ensure that any potential impacts can be promptly identified and corresponding strategies can be formulated.
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