(Yicai) March 23 -- After the latest official exploration, the Maoniuping mine in China’s southwestern Sichuan province has become the second-largest in the world by proven rare earth reserves.

The Maoniuping mine has proven reserves of 9.6656 million tons of rare earth oxides, ranking second globally after the Bayan Obo mine in China’s northern Inner Mongolia Autonomous Region, according to data from the Ministry of Natural Resources, the Chengdu municipal government announced recently. The latest exploration added more than 3.5 million tons of REO reserves.

The Maoniuping mine also contains associated resources, such as barite, fluorite, and molybdenum. The proven reserves of fluorite are 27.1354 million tons, while those of barite are 37.2277 million tons, according to MNR data.

The proven reserves of the Maoniuping mine have been rising since it was first discovered in the 1980s. By 2010, its explored reserves of REO were 3.16 million tons. In 2023, after China Rare Earth Group’s subsidiary Zhongxi Liangshan Rare Earth became its exclusive operator, the mine initiated a new rare earth reserve verification project.

China’s light rare earth resources are mostly concentrated in the northern regions, while the heavy ones can be mainly found in the southern regions. The significant growth in the proven reserves of the Maoniuping mine has redefined this distribution pattern, giving South China a boost in light rare earth resources.

Editor: Futura Costaglione