Turkey is considering a Chinese partnership to develop its rare earth deposits. This move comes as Ankara (Turkey’s capital), lured by Beijing’s financial aid, shows interest in participating in this global resource landscape.
Turkey is reportedly home to major rare earth deposits, a group of 17 elements crucial in the development of high-tech goods such as smartphones, wind turbines, and military equipment. Turkey’s current focus is to boost its domestic capabilities to extract and process these elements to gain a substantial foothold in the worldwide supply chain.
With this potential partnership, Turkey aims to enhance its mining sector, and not just rely on exports but also to add value to its commodities. This build-up is expected to attract billions in investments and create many job opportunities for locals.
China, which dominates the global rare earth market, may be interested in this partnership as it will help to spread its supply chain risks. For Turkey, it will mean acquiring the necessary technological capability and expertise to extract and process the rare earth elements, and hence reduce their dependence on imports.
However, the decision to seek a partnership with China is not without controversy. Western nations, especially the U.S., have been trying to reduce their reliance on Beijing for crucial commodities like rare earths. This move may put Turkey in conflict with these countries, potentially affecting its relations.
The discussion for this partnership comes in the wake of growing global demand for rare earths. This increasing demand, especially from the technology and renewable energy sectors, has pushed many countries to explore their own reserves and build domestic capabilities.
In conclusion, if the partnership does take place, it could significantly alter the global rare earths landscape, opening up a new supplier in the market and impacting the existing geopolitical dynamics. Nonetheless, there are still certain challenges and risks involved that both parties need to consider.
