China Plans to Boost Mine Output by 50% in World's Largest Rare Earth Deposit China's plans to increase mine output by 50% at its Bayan Obo rare earth deposit have sparked mixed reactions.
Baogang Group, a Chinese mining company, has invested over $74 million in the expansion, which is seen as a vote of confidence in China's rare earth extraction capabilities.
However, this move also highlights China's reliance on these crucial minerals and its willingness to prioritize iron ore production over more valuable rare earths.