Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
RareMetalBlog reports the Russian government has begun creating the conditions needed for an active resumption of rare earth production- the rationale being increased domestic demand for high-tech industry and the spectre of more export restrictions by China.
According to the blog posting, Russia’s share of the rare earth market is expected to increase by 10-15% over the next 8 years by developing a number of rare earth deposits. Says Russian rare earth analyst Arkady Naumov:
“At present Russia has 14 fields of rare earth metals, of which 60% are located on the Kola Peninsula, 14% in the Murmansk region, and 22% – on the territory of Yakutia. Large stocks are also located in the Krasnoyarsk’s Chuktukonsky field.”
Russia imports about 90% of its REEs, mostly from China, the dominant producer at around 95% marketshare. Currently the only Russian rare earth supplier is the Solikamsk plant.
Continue reading at RareMetalBlog
