Osaka Bay Mining’s research team, based on recent studies expects China to mine less than half the world's rare earths by 2025.

Osaka Bay Mining’s Chief Operations Officer, Ms. Aya Sasamoto commented on the current China tariffs saying "We are probably already at the point with some of the rare earths where China is dangerously close to becoming a net importer, because its main sources were so over-exploited in the past. We are now in the territory of post-peak Chinese production of rare earths."

Osaka Bay Mining’s report, which compiled data and analysis, said that the global rare earth element production amounted to about 130,000 tonnes in 2019, of which China constituted 82%. Production volume of neodymium-iron-boron permanent magnets in China rose by 7% in 2020 while consumption rose by about 8%.

“A trade war is difficult for suppliers to contend with because substitution is not technically possible in the short-run, and any extra cost to rare earths trade must then lead to an increase in price to be borne by the end consumer”, added Aya Sasamoto, Chief Operations Officer of Osaka Bay Mining.

About Us - Osaka Bay Mining

Osaka Bay Mining is dedicated to exploring undersea locations for rare earth metal concentrations and developing the mining infrastructure required to capitalize upon this multi-billion dollar market. We focus our operations in a variety of locations throughout the East China Sea and the Philippine Sea, and the wider Pacific Ocean.

Worldwide production of rare earth metals exceeds 130,000 tons. In terms of consumption, Japan is the 2nd largest consumer of rare earth metals, with approximately 25% of global consumption, driven by its electronics, scientific and advanced manufacturing industries. The Japanese Ministry for Economy, Trade and Industry’s (METI) Agency for Natural Resources & Energy have implemented several policies with the aim of creating a conducive business environment for developing production of rare earth metals in the Japan.

Osaka Bay Mining’s exploration locations are within 200km of the coast of the islands of Japan, including Kiisuido Strait and Harima-nada Sea, and Osaka Bay itself (the Osaka Bay Complex), in the East China Sea and the Philippine Sea, and the wider Pacific Ocean, including the Okinawa Through. Following our initial exploration of over 200 sites, we estimate that in excess of 80 billion tons of rare earth metals are deposited in the sediment on the floor of the Pacific Ocean.