China Launches Mineral Hunting Satellite To Maintain Rare Earth Monopoly

 

China is believed to control 90% of global supplies of rare earth metals. In maintaining its monopoly on rare earth metals for the production of microchips, electronics, and electric motors, Beijing launched a mineral hunting satellite to explore the planet for new resources. 

The satellite, called "Ziyuan-1 02E" or "five-meter optical satellite 02," was launched on Sunday that can take pictures of the ground with a resolution of five meters, according to the China National Space Administration.

Ziyuan-1 is equipped with infrared, near-infrared, and hyperspectral sensors that will help China's geological environment engineers identify places around the world rich in rare earth minerals. 

China is believed to control up to 90% of global supplies of rare earth metals and is responsible for almost two-thirds of global production in 2019. 

Some say China's control over the global market for rare earths is diminishing, but the truth is this is only slightly true (read: "China Creates New State-Owned Mining Giant To Tighten Control Of Rare Earth Supplies").  link