Korea to designate all 17 rare earths as critical minerals to beef up resource security

Korea will designate all of the 17 scientifically identified rare earth materials as strategically critical minerals requiring government control for the nation's resource security, the industry ministry said Friday. The measure was announced as part of a comprehensive plan for bolstering the country's security on resources that play a crucial role for advanced industries amid persisting geopolitical risks and intensifying global competition over such minerals, according to the Ministry of Trade, Industry and Resources. The plan was unveiled at the inaugural resource security council, presided over by Industry Minister Kim Jung-kwan and attended by officials from related government ministries and agencies. While designating all 17 rare earth metals, such as lanthanum, neodymium and scandium, as critical minerals, the government will first expand communications with China for supply chain cooperation and strengthen monitoring on supply chain disruptions. The government later plans to expand the list and the volume of required rare earth reserves, and also expand production infrastructureWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times