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The Star
12 hours ago
- Politics
- The Star
China reviews US data curb impact
BEIJING: China is reviewing effects on the nation's scientific research after US President Donald Trump's moves to withdraw funding from some US agencies and halt publication of certain categories of data. Several Chinese ministries and bodies had, in recent weeks, started assessing potential disruption to their work, and made efforts to determine the extent to which some activities had become reliant on data published by the United States, according to sources. Agencies carrying out reviews include the Chinese Academy of Sciences, China Meteorological Administration, Natural Resources Ministry and Agriculture and Rural Affairs Ministry. One area of work facing potential disruption has been studies of coral bleaching in the South China Sea. Chinese researchers had used a US National Oceanic and Atmospheric Administration product that published coastal water temperatures, which was decommissioned last month. The move comes as Beijing and Washington had been working to get bilateral relations back on track, with negotiators agreeing on a framework to ease trade tensions and revive the flow of sensitive goodss. But details are scarce and many issues remain unresolved, including China's massive trade surplus with the United States. Reviews being carried out by the Chinese ministries would examine if domestic sources can replace the use of US data that's now unavailable, the source said. Investigations are being conducted quietly to avoid giving the United States any potential bargaining chip. Beijing had sought to reduce its dependence on foreign sources for critical technology and products. Past US actions had only accelerated China's push for self-reliance, much like how US curbs on chip sales had spurred growth in the country's home-grown semiconductor industry. — Bloomberg
Observer
28-02-2025
- Business
- Observer
What are rare earth metals and why are they in demand?
President Vladimir Putin has offered the US the opportunity under a future economic deal to jointly explore Russia's rare earth metal deposits that he says are greater than those of Ukraine. Putin's offer followed negotiations between the US and Ukraine over a draft minerals deal that is expected to be signed during Ukrainian President Volodymyr Zelenskiy's visit to Washington on Friday. "I'd like to buy minerals on Russian land too. If we can, the rare earth. They have very good rare earth also, they both do (Russia and Ukraine)," Trump said, adding the deal would be beneficial for Russia as well as for the US. China's control of 95 per cent of global production and supplies of rare earth metals, crucial for industries such as defence and consumer electronics, has focused the rest of the world on trying to develop their own supplies. According to the Natural Resources Ministry, Russia has reserves of 15 rare earth metals totalling 28.7 million tonnes as of January 1, 2023 and that 3.8 million tonnes is the amount of reserves under development or ready for development. Russia aims to become one of the top five rare earth metals producers with up to 12 per cent of the global market share by 2030, according to its sector development strategy. Tomtor, located in the northern Siberian region of Yakutia, along with Zashikhinskoye in the Irkutsk region of Siberia, are central projects to Russia's plans to boost metals output. The launch of both extraction sites has been delayed. High technology enterprises, which are part of Rosatom or industrial and defence conglomerate Rostech, are likely to be the main domestic consumers of rare earth metals. WHAT ARE THEY? Rare earths are a group of 17 elements including 15 silvery-white metals called lanthanides, or lanthanoids, plus scandium and yttrium. WHAT ARE THEY USED FOR? They are used in a wide range of products including consumer electronics, electric vehicles (EVs), aircraft engines, medical equipment, oil refining and military applications such as missiles and radar systems. WHAT COUNTRY IS THE BIGGEST PRODUCER? China accounts for about 60 per cent of global mine production and 90 per cent of processed and permanent magnet output. Beijing sets quotas on output, smelting and separation, which are closely monitored as a barometer of global supply. WHAT ARE THEIR NAMES? In their periodic table order, they are: scandium, yttrium, lanthanum, cerium, praseodymium, neodymium, promethium, samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium and lutetium. WHICH ONES ARE MOST COMMON? Lanthanum and cerium are among the most common rare earth metals. Lanthanum is used in camera lenses and lighting. Cerium is used in catalytic converters, which reduce combustion engine emissions. Neodymium and praseodymium are in demand for permanent magnets used in EV motors and wind turbines. ARE THEY RARE? They are not rare in the sense that they are uncommon; some are more common than lead, for example. But they tend to be spread thin around the Earth's crust in small quantities and mixed together or with other minerals, so larger deposits are difficult to find and costly to extract. WHAT ENVIRONMENTAL IMPACT DO THEY HAVE? Processing rare earths often involves the use of solvents, which can produce toxic waste that pollutes the soil, water and atmosphere. More environmentally friendly technologies are being developed, but they are not yet widely used. Certain types of rare earth ores also contain radioactive thorium or uranium, which is often removed using acid. For this reason, development of the sector faces health and environmental regulatory hurdles. — Reuters
Reuters
21-02-2025
- Business
- Reuters
Guyana's oil output fell to 620,000 bpd in January, government says
GEORGETOWN, Feb 21 (Reuters) - Guyana's average oil production fell to some 620,000 barrels per day in January from 656,000 bpd in December, the lowest monthly figure since August, the Natural Resources Ministry said on Friday in a report. A consortium led by U.S. oil major Exxon Mobil (XOM.N), opens new tab and involving Hess (HES.N), opens new tab and China's CNOOC ( opens new tab controls all crude and gas output in the South American country through three floating facilities. Guyana's average oil output increased to 616,000 bpd last year from 391,000 bpd in 2023 following facility upgrades and production ramp-up at one of the group's vessels, Prosperity, which began operations in late 2023. The ministry's report did not elaborate on the fall. The government also reported revenues of $230 million in January from the country's share of oil output that was exported by the government, and royalties. For all 2025, Guyana forecasts $ 2.5 billion in revenue from the oil sector, a slight decline from 2024 mainly due to expected lower crude prices. A fourth producing vessel built by infrastructure firm SBM Offshore ( opens new tab this week departed from Singapore on its way to Guyana's waters. It is expected to begin output in the third quarter, Exxon said earlier this week, expanding the consortium's output capacity to some 940,000 bpd. Guyana's economy achieved its fifth consecutive year of double-digit growth last year, expanding 43.6% as oil output and exports showed solid increases. Latin America's newest oil producer last year became the region's fifth-largest crude exporter after Brazil, Mexico, Venezuela and Colombia, and was identified as one of the main contributors to global oil supply growth. Energy executives and officials gathered in Georgetown this week to discuss offshore projects and investment opportunities as the government pushes for a shift towards natural gas in the oil-dominated country.
