China Remains Germany's Main Supplier Of Rare Earths
Sumaira FH Published January 25, 2023 | 07:52 PM
Germany's imports of rare-earth metals from China amounted to 49.3 million euros (53.7 million U.S. dollars) in the first eleven months of 2022, accounting for two-thirds of the total imports, the country's Federal Statistical Office (Destatis) said on Tuesday
BEIJING, (APP - UrduPoint / Pakistan Point News - 25th Jan, 2023 ) :Germany's imports of rare-earth metals from China amounted to 49.3 million Euros (53.7 million U.S. Dollars) in the first eleven months of 2022, accounting for two-thirds of the total imports, the country's Federal Statistical Office (Destatis) said on Tuesday.
For some of the rare earths, the share was even higher. Of the 220 tons of Scandium and Yttrium imported during this period, which were worth 1.7 million euros, 94.4 percent came from China.
The term rare earth refers to a group of 17 elements that are used to make a range of products and infrastructure which are increasingly important to everyday life. They can be found in mobiles, hard drives, and trains, but they are also important for green technology including wind turbines and electric vehicles.
As the world's largest producer of rare earths, China accounts for three-quarters of all imports globally, according to the German Institute for Economic Research (DIW Berlin). In the European Union (EU), the average share of rare-earths imports from China is around 94 percent.
With demand for rare earths in the EU expected to increase fivefold by 2030, Europe is planning to strengthen domestic production, processing and recycling through the Critical Raw Materials Act.
Earlier this month, the largest known deposit of rare earths in Europe, around one million tons, was discovered in Kiruna, northern Sweden. According to state-owned mining company LKAB, it is expected to take at least 10 to 15 years before mining can begin. So far, no rare earths are being mined in Europe.
Related Topics
Recent Stories
Govt reduces petrol price by Rs5.45 per litre
Pakistan’s Ambassador to UAE meets Ruler of Ras Al Khaimah
Statement of Engro Corporation - LNG Case Decision
Wasim Akram touches fans’ hearts by new look
Empowering women for employment is the need of hour, says Sadaffe Abid
Global study reveals Pakistan’s inadequate measures against Tobacco Industry
Co-Working Center launched in Okara under PITB’s e-Earn program
BHC judges recommend legal action over agencies interference into judicial matte ..
Third Women T20I: Pakistan to face West Indies today
Mahira Khan delights at Arijit Singh’s concert in Dubai
Dubai Customs Celebrates World Intellectual Property Day, Honors Schools and Uni ..
Vivo Reveals Durefishan Saleem as Brand Ambassador for its Upcoming Y100 Smartph ..
More Stories From World
-
Tennis: ATP/WTA Madrid Open results - 3rd update
4 hours ago -
Amazon triples quarterly profit as cloud and ads grow
4 hours ago -
Football: UEFA Champions League result
4 hours ago -
Police use tear gas, rubber bullets in Georgia pro-EU protest crackdown
4 hours ago -
Changpeng Zhao, the 'normal guy' who conquered crypto
5 hours ago -
Blinken says first Jordan aid trucks leaving to Gaza through Erez crossing
6 hours ago
-
Mueller starts for Bayern, Tchouameni back for Real Madrid
6 hours ago -
UN rights chief 'troubled' by tough police action against pro-Palestinian protesters at US universit ..
6 hours ago -
Pakistan’s Ambassador to UAE meets Ruler of Ras Al Khaimah
6 hours ago -
Blinken demands 'no more delays' by Hamas on truce deal
6 hours ago -
Tennis: ATP/WTA Madrid Open results - 2nd update
7 hours ago -
US panel recommends women receive breast cancer screening from 40
7 hours ago