EXCERPT: "In Myanmar’s Kachin State, rare earth mining sites increased from a handful in 2016 to more than 2,700 mining collection pools across 300 locations by March 2022. These operations now cover an area equivalent to Singapore. Global Witness reports that Myanmar has become the world’s largest source of heavy rare earth minerals used in renewable energy technologies and electronics."
"The scale of extraction continues to grow. Myanmar exported more than 140,000 tons of rare earth deposits to China worth over $1 billion between May 2017 and October 2021."
Most of the mining in Myanmar is unlicensed and unmonitored. It is a nightmare scenario for multiple generations.
LYC Price at posting:
$9.13 Sentiment: Buy Disclosure: Held
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