T眉rkiye aims to boost its production of rare earth elements and rank among the top five producers in the world, according to T眉rkiye鈥檚 energy and natural resources minister on Tuesday.
Alparslan Bayraktar鈥檚 remarks came during a visit to a rare earth element management facility in the country鈥檚 central Eskisehir province.
T眉rkiye discovered the world's second-largest rare earth element reserve in Eskisehir in 2022.
Bayraktar confirmed a find of around 690 million tonnes of ore at the site, where the first stage of a pilot plant was established.
Based on the preliminary results from the facility, Bayraktar said an industrial facility would be built to initially process 1,200 tons of ore and later to process 570,000 tonnes of ore and 10,000 tonnes of rare earth oxide on an annual basis.
If successful with this production rate, Bayraktar maintained that the country would become 鈥渙ne of the top five producing countries in the world.鈥�
鈥淭his will bring us to a very important point in our own industry, especially for our electric vehicles, as well as in renewable energy technologies, and we will become an important supplier for many countries in the world to access these raw materials and rare earth elements,鈥� he said.
Rare earth elements, also known as "industrial gold," are a group of 17 chemical elements and are one of the indispensable elements of new technologies.
China supplies over 61% of the world's rare earth elements and holds roughly two-thirds of scarce metals and minerals globally, according to Statista, a German online data gathering and visualization platform.
By Handan Kazanci
Anadolu Agency
energy@aa.com.tr