JACKPOT for China, finds huge treasure more expensive than gold, Xi Jinping to…, the material is…

According to the China Geological Survey under the Ministry of Natural Resources, this discovery could become the largest medium and heavy rare-earth deposit in China.

Written by: Analiza Pathak Edited by: Analiza Pathak

Published: January 18, 2025, 7:56 AM IST

Share

Share Article

• Facebook
• WhatsApp
• X
• Email
• Telegram
• Linkedin

https://www.india.com/news/world/jackpot-for-china-finds-huge-treasure-more-expensive-than-gold-xi-jinping-major-strategic-advantage-the-rare-earth-elements-are-praseodymium-neodymium-dysprosium-and-terbium-7547089/ Copy

China has made a significant discovery of rare earth elements in Honghe, southwest China’s Yunnan Province. The newly found reserves are estimated to contain around 1.15 million tons of these valuable resources, which are more precious than gold due to their limited availability worldwide. The discovery is expected to give President Xi Jinping a major strategic advantage, as these elements play a critical role in both civilian and military applications.

Largest rare earth deposit in China

According to the Global Times, citing information from the China Geological Survey under the Ministry of Natural Resources, this discovery could become the largest medium and heavy rare-earth deposit in China. This will likely enhance China’s already dominant position in the global rare earth market. Recently, China also discovered one of the world’s largest lithium reserves, further solidifying its resource supremacy. Notably, China is the world’s largest exporter of rare earth elements.

“Rare earth elements are a group of 16 chemical elements, which can be divided into three small groups: light, medium and heavy. Each new energy vehicle requires 0.8 kilograms of rare earth, so the demand of the element is huge and increasing every year,” said Wang Xueqiu, principal scientist of the Institute of Geophysical and Geochemical Exploration under the Chinese Academy of Geological Sciences.

Strategic importance

The discovery is particularly notable for the medium and heavy rare-earth minerals, which are crucial for manufacturing electric vehicles, renewable energy systems, and national defense equipment. These minerals also serve as essential raw materials for advanced technological industries.