China's rare-earth miners suffer profit falls as new supply chains rise

Global shifts and shaky domestic economy hit prices in strategic industry

20240429 china rare earths

Soil containing rare-earth elements for export is transported at a port in Lianyungang, in China's Jiangsu province. © Reuters

KENJI KAWASE, Nikkei Asia chief business news correspondent

HONG KONG -- China's rare-earth miners and refiners are suffering from falling revenues and profits despite the government's efforts to protect the strategic industry, as competitors scurry to build their own supply chains and the domestic economy remains shaky.

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