Here is the proposed Chinese legislation that I assume to have an impact on the shenghe agreement.
It is currently going through public discussion and feedback , this was put out by the Chinese government on 15th of Feb 2025 or there abouts. The only other legislation that China has on rare earth was back in 2023 regarding exporting technology. So predates the agreements as far as I know ( typing on phone here)
so the issue from the article is importing ores at the detriment of local operations, which on a cost opex level seems leveled at low cost environmentally dirty mines like in Myanmar considering that China has been cleaning up their own rare earth mine industry's over the decades and consolidated it from what was unregulated in situ clay leaching processing .
https://treo.substack.com/p/breaking-china-proposed-regulations
I assume shenghe is considered a considerable behemoth company on our registry , but opens up their ability of commitments to meeting the agreements if they are throttled on importing ore. If these laws come into effect.
below copy out from article
Our takeIf implemented this regulation will effectively cull all junior rare earth miners out there. Unless, they have a behemoth Chinese rare earth company as shareholder, then the respective junior rare earth miner will be fine.
(20min delay)