China confirms large rare-earth mineral deposit in Yunnan

China has confirmed a significant discovery of rare earth minerals in Yunnan province. This finding was announced by the state-owned China Geological Survey (CGS) after a detailed investigation. The Yunnan deposit is estimated to contain up to 1.15 million tonnes of rare-earth resources. These resources could yield around 470,000 tonnes of valuable minerals, including zinc, aluminum, and tin. The deposits also include rare elements like praseodymium, neodymium, dysprosium, and terbium, which are in high global demand. Experts suggest that this discovery will enhance China's influence in key industries, particularly electric vehicles and defense. The deposits are noted for their unique accumulation, making them easier to extract using environmentally-friendly methods. Currently, China is the world's leading rare-earth producer, accounting for about 60% of the global production and 85% of the processing capacity. In 2023, China's mining output was six times greater than that of the United States. Additionally, China has also found large reserves of shale oil in two other regions, with estimates of around 180 million tonnes in total.