Taiwan eyes first rare earth metals plant by 2030

Taiwan plans to build its first rare earth metals production plant by 2030, Report informs via the Taipei Times newspaper.

The project is being developed by the Industrial Technology Research Institute of Taiwan.

Construction of the facility is planned to be completed by the end of 2028. Specialists will then begin improving production processes.

By the end of 2030, the plant is expected to produce up to 500 tonnes of rare earth metals annually, covering about 50% of Taiwan's demand.

According to Dr. Pei-Zen Chang, President of the institute, the organization already operates a pilot rare earth metals production line, although its capacity is only about 5 tons per year.

He noted that despite Taiwan's relatively low demand for rare earth metals, they remain critical for a number of high-tech industries.

Chang added that the island's economic institutions are seeking to build their own supply chains and expand production capacity to reduce dependence on imports and mitigate risks related to export restrictions.