China’s germanium, gallium ban could cost the US $3.4 billion
According to the USGS, gallium prices could increase by more than 150% and germanium prices by 26% in the event of a total ban.
China’s global share of rare earth output will drop steeply in the next two years as other countries ramp up production to compensate for domestic curbs on mining the minerals, a former government official and future rare earth group chief said.
The country’s rare earth output would drop from 95 percent of global output to 60 percent, reversing global reliance on China, Wang Caifeng, a former Ministry of Industry and Information Technology (MIIT) official told the official China Daily.
