3397820070 Myanmar's Rare Earth Boom: A Glimpse into the Future, a Burden on the Present

Myanmar’s Rare Earth Boom: A Glimpse into the Future, a Burden on the Present

The recent report by Global Witness has shed light on the concerning rise in the world’s dependency on heavy rare earths from Myanmar’s conflict-affected Kachin state. The report reveals that the trade in heavy rare earths is worth a staggering $1.4 billion in 2023, with most of the mines providing crucial income for the Junta’s struggling economy.

Since the military coup in 2021, rare earth extraction in Myanmar has surged, particularly with loyal militia forces now operating in the region. The increase in mining activities has led to a doubling of imports of heavy rare earth oxides from Myanmar to China in just two years, highlighting the growing demand for these elements in the global energy transition.

However, the rapid expansion of rare earth mining in Kachin State has come at a significant cost to local communities and the environment. Workers and residents near the mining sites have reported various health issues, including respiratory problems and skin conditions, likely stemming from the chemicals used in the mines.

Furthermore, the mining operations have led to severe pollution in the region, with water samples showing high levels of acidity and arsenic in streams where mining takes place. The environmental impact is threatening the biodiversity of the area, which is considered a global hotspot.

Global Witness has also accused the Kachin resistance, particularly the Kachin Independence Organization (KIO), of colluding with mining groups for financial gain. The report highlights the need for stricter regulations and safeguards to protect local communities and the environment from the harmful effects of rare earth mining.

Overall, the Global Witness report underscores the urgent need for responsible mining practices in Myanmar to mitigate the negative impact on both people and the environment. Efforts must be made to work with civil society and local communities to develop regulations that prioritize the well-being of the population and the protection of the natural surroundings.

Share this article
Shareable URL
Prev Post

Copper and gold prices surge as investors wager on scarcity in supplies

Next Post

Vanadium Flow Batteries Last 20 Times Longer Than Lithium Batteries

Leave a Reply

Your email address will not be published. Required fields are marked *

Read next
Subscribe to our newsletter
Stay informed on the latest market trends