French media: The world's dependence on China for critical minerals is increasing, while reliance on rare earths is declining.
Le Figaro cites a report from the International Energy Agency (IEA), stating that the refining and production of critical minerals are overly concentrated in China.
According to Le Figaro’s citation of the IEA’s latest report, China not only continues to dominate the production lines for key minerals essential to electric vehicles, batteries, wind turbines, and solar panels, but more challengingly, this dominance is growing for many critical minerals. The IEA report indicates that China’s share in the production chains of over twenty key minerals has increased from 70% in 2023 to 72% by 2025. Excluding Indonesia, which produces the largest amount of nickel, China remains the leading country in refining other key metals.
However, according to the report, although China will still control 85% of global rare earth refining capacity by 2025—down from 90% in 2023—the downward trend is expected to continue. This is due to export restrictions China implemented starting April 2025 on rare earth exports, forcing Western nations to pursue a dual strategy aimed at reducing their dependency on China. By 2035, it is projected that China’s share in global rare earth refining will fall to 70%.
The article cites a statement released by the IEA on Thursday, warning that if China fully implements its restrictions on rare earths and certain critical minerals, it would significantly impact annual production valued at $6.5 trillion outside China. The core issue is not price, but volume. Therefore, businesses and member countries of the OECD must focus not on controlling raw material prices, but on ensuring sufficient supply chain security for these minerals. The only viable long-term solution is large-scale investment in production chains beyond China.
Original article: toutiao.com/article/1870987573726217/
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