Seems no one has picked this news up, which is extremely encouraging for the price outlook and sentiment on REE's.
Armed group says it takes control of Myanmar rare earth mining hub
An armed group fighting Myanmar's ruling military said it has taken control of a mining hub that is a major supplier of rare earth oxides to China, likely disrupting shipments of elements used in clean energy and other technologies.
Last year, Myanmar supplied China with about 50,000 metric tons of rare earth oxides (REOs) from ion-adsorption clays (IACs), eclipsing China's domestic IAC mining quota of 19,000 tons and making it the world's top exporter of heavy REOs, according to broker Ord Minnett.
"Rebel control of these mining sites could potentially disrupt rare earth concentrate shipments into China, which have declined for four months straight owing to the monsoon season and other challenges," research firm Adamas Intelligence said in a note on Monday".
"Once the conflict passes, we expect financial deals with Chinese miners will be renegotiated, likely delaying restarts until early-2025," he said, adding that prices for REOs used in magnets are likely to rise as supply tightens".
Source:
https://www.reuters.com/world/asia-pacific/armed-group-says-it-takes-control-myanmar-rare-earth-mining-hub-2024-10-23/
(20min delay)