Inside China's Heavy Rare Earth Empire: The Separators, Metallizers and Traders Controlling a Global Chokepoint

Highlights

• China Rare Earth Group (CREG) received all of China's 2024 heavy rare earth mining quota and operates 35 smelting and separation enterprises across nine provinces.
• Myanmar's Kachin region supplies roughly half of global heavy rare earths, with all material flowing into China for processing, making it the top external feedstock source.
• Shenghe Resources proposed selling 51% stakes in four separation businesses to a CREG subsidiary, accelerating consolidation of China's heavy rare earth processing network.
• The true chokepoint in global rare earth supply is not mining but the integrated system converting feedstock into separated oxides, metals, and alloys controlled by Chinese firms.