Myanmar becomes a mine of rare earth minerals, China is taking full advantage but India is far behind.

New Delhi: China is accumulating reserves of rare minerals from Myanmar. Experts say that with this, China can soon become a big supplier of these minerals. China has increased imports of rare minerals from Myanmar by 70% in the first half of 2023. This information has been obtained from Chinese Customs data. This strategy of China can give it control over the supply chain of rare minerals in future.

Chinese mining companies increasing operations in Cochin area

Chinese mining companies are expanding their operations in the Kachin region of Myanmar. Kachin is rich in rare minerals. Mining activities are particularly intense around the cities of Panwa and Chipwe, which are adjacent to Yunnan province in southwestern China. According to the US Geological Survey, Myanmar will account for 11% of the world’s total rare mineral production in 2023. China’s share was 68% and America’s 12%. Rare minerals like dysprosium and terbium, used in electric vehicles, are found mostly in Myanmar and China. However, Myanmar does not have the capacity to refine these minerals.

China is importing rare minerals from Myanmar

China is importing raw rare minerals from Myanmar and refining them in China. This is giving China control over the supply of rare minerals. The demand for these minerals is increasing in electric vehicles, electronics and defense industries across the world. In such a situation, this strategy of China can bring it to a strong position in the global market.

This step of China is disastrous

According to a report by The Irrawaddy, a leading Myanmar media outlet, ‘Myanmar’s transformation into a warehouse for China’s rare minerals has been swift and devastating. The Kachin region, once known for its dense forests and rich biodiversity, now looks like a moon-like wasteland filled with mining pits.’ This mining is causing huge damage to the environment. It is also having a negative impact on the lives of local people.