They will do that in there own time. It is important for China to make it difficult for new mines (outside China) to get funding. By banning export of rare earths China can keep USA, Europe etc on a tether with a shortage of rare earths anytime they like.
I think many new non-China mines will only come into serious production with government support. Private developers will always need to see real profits before taking the plunge and availability of cheap Chinese rare earths is a big risk for them.
They will do that in there own time. It is important for China...
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| ASM (ASX) Chart |