[Regnum] Thorium reserves in deposits in China are enough to provide China with fuel for 60,000 years, the South China Morning Post (SCMP) newspaper reported on February 28.
According to the publication, the Bayan-Obo region of Inner Mongolia alone contains up to 1 million tons of the metal. This deposit alone contains enough thorium to cover household energy needs for tens of thousands of years, the authors noted.
| The key is whether or not the ore can easily be extracted. |
As reported by Regnum News Agency, observers from The Strategist earlier noted that China's dominance in the rare earth metals (REM) industry was the result of a 40-year campaign by the Chinese state. Now, China accounts for 80% to 90% of the extraction and processing of rare earth metals, as well as the use of REM in the production of finished products, the authors noted.
China has been mining REEs since the 1950s, initially as a by-product of mining operations in the Bayan Obo mining area. REE production at the Bayan Obo mine increased from 1,000 tonnes in the late 1970s to 11,860 tonnes in 1986, surpassing US production levels.