Beixin Minerals recognizes the rising requirements for China to produce more rare earth elements
QINGDAO, SHANDONG, CHINA, March 29, 2021 /EINPresswire.com/ — Beixin Minerals, ISIN: CN1124854917, a dynamic and growing mining company focused on the operation and development of Rare Earth Elements mines, today announced its market overview related to the growing urgency for China to generate more of its rare earth minerals, including niobium and scandium.
There are many official reports revealing the necessity to increase the internal production capacity of rare earth elements with extra attention to niobium and scandium materials which have been considered critical minerals. Niobium oxides, for instance, are demanded by producers of niobium metals, optical and electronics applications. Beixin Minerals plans to produce niobium, scandium and titanium within its Qixia project in Southwestern Yantai.
“We are aware that the high demand for rare earth elements is strengthening the critical minerals supply chains. Particularly, it is highlighted the demand to create a secure internal supply chain for niobium oxide. While many mining companies do not produce high-purity niobium oxide materials, we consider that the demand reveals the strategic importance of this element and we will analyze potential ways of meeting the industrial expectations”, said Huang Fu Zhao, Chief Technical Officer and Head of Rare Earths.
According to the feedback coming from researchers of rare earth elements’ contribution to nowadays industries, it has been underlined the importance of rare elements. This resulted with establishing conclusions on the state of national supply chain, economic significance and the availability of rare earth metals. According to industry’s approaches, there is a significant need to stockpile the rare elements while giving priority to environmental aspects.
According to the preferences for sourcing rare earth materials from the national technology, it is inquired the acquisition of materials that are resolute for being strategic and critical materials needed for industrial defense.
About Beixin Minerals
Beixin Minerals is a rare earth mining company focused on delivering strategic materials to technology industries by advancing plans to develop the Qixia Rare Earth Project, located in Yantai, Shandong, People’s Republic of China. The Company’s mission is to spearhead the development of its flagship project, to provide maximum shareholder value and to implement meaningful and successful social responsibility programs. The Qixia Project is positioned to be the next Asian source of rare earth minerals. The quantity and quality of the resource present at the site makes it a world-class mining district and a dependable, long-term source for the rare earths the industry demands.
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