About REO Reserves Of Eskisehir Rare Earth Mine In Turkey

According to the news of overseas network on July 4,  Turkish Daily reported that 694 million tons of rare earth resources have been found in Eskisher Province in the northwest of  Turkey, and its reserves can meet the global demand for 1000 years. It may bring billions of dollars to Turkey after processing.

According to the comprehensive analysis of geological experts, "The information of 694million tons of rare earths found in Eskisher in Turkey is speculated to be spread incorrectly: 694million tons should be the amount of ore, not the amount of rare earth oxide (REO)."

The rare earth resource referred to by the U.S. Geological Survey is rare earth oxide (REO). The commonly used statistical caliber of rare earth reserves in China is also converted according to REO, which is mentioned in many brokerage reports.

Due to the wide variety of rare earths, the simplest classification is light rare earths and heavy rare earths. The grades of different types of raw ores are quite different. The low ones may be less than 1%, and the high ones can be 90%.

Therefore, in the statistics of rare earth resources, the data converted by rare earth oxide is relatively accurate. Turkey's 694million tons of rare earth resources should obviously not be converted by rare earth oxides.

According to reports from Turkey quoted by some media at present, this batch of rare earth resources is equivalent to about 38million tons after converting by rare earth oxide. This figure seems reasonable.

Turkey will surpass Russia, Brazil and Vietnam and become the second largest rare earth reserves country in the world.

According to the same data from the US Geological Survey, the global rare earth production in 2021 was 280000 tons, while China's production was 168000 tons, accounting for 60% of the total global production.

Due to the tight supply-demand relationship of rare earth in the world, the production capacity should be enough to reflect the demand.

If the figure is 280000 tons a year, the global demand in 1000 will be at least 280million tons. Similarly, the figures here are also converted by rare earth oxide.