ClaimsNouriel Roubini

“They can counter-sanction in the short run because they produce or process most of the rare-earth metals that are used in electric vehicles.”

Nouriel Roubini, interviewee 3 January 2023 Storm Clouds Looming: Q&A With Nouriel Roubini (Global Finance Magazine)

Factual Economics and markets

China produces or processes most of the rare-earth metals used in electric vehicles.

Resolved true The record shows it happened or was so.

Factual: Statements about the present or the past, checked against the record: did they hold up?

The second judge would not resolve this claim; the verdict shown is the first judge's.

What would count as true or false

Test: as of Jan 2023, did China account for most (more than 50%) of global production or processing of the rare-earth elements used in EVs (e.g. NdFeB magnet elements: neodymium, praseodymium, dysprosium, terbium)? True: authoritative data shows China above 50% in mining or processing (for example about 60–70% of mining or about 85–90% of processing or refining). Mostly true: China's share is clearly the largest and near 50% on one measure and above 50% on another, with a minor imprecision. Mostly false: China is the leading producer but below 50% on both measures. False: China is not the dominant producer or processor.

Set before the research began.

Evidence (2)

  1. E1 Data in metric tons of rare-earth-oxide (REO) equivalent (Rare Earths chapter, Mineral Commodity Summaries 2023) U.S. Geological Survey · January 2023

    “Global mine production was estimated to have increased to 300,000 tons of REO equivalent. China’s Ministry of Industry and Information Technology raised 2022 quotas for rare-earth mining and separation to 210,000 tons and 202,000 tons of REO equivalent, respectively.”
  2. E2 Data in metric tons of rare-earth-oxide (REO) equivalent (Rare Earths chapter, Mineral Commodity Summaries 2023) U.S. Geological Survey · January 2023

    “Import Sources (2018–21): Rare-earth compounds and metals: China,7 74%; Malaysia, 8%; Estonia and Japan, 5% each; and other, 8%.”

Reasoning

E1, the USGS Mineral Commodity Summaries 2023, estimates 2022 global rare-earth mine production at 300,000 tons of rare-earth oxide (REO) equivalent. It also reports that China raised its 2022 quotas to 210,000 tons for mining and 202,000 tons for separation (processing). Those quotas are about 70% and 67% of global mine output, well above the 50% threshold. Quotas are not the same as measured output, but the separation quota alone exceeds half of global mine production, which supports China's majority share in processing too. E2 covers only U.S. imports, so it does not bear on global shares.

Cite this claim

Nouriel Roubini, “China produces or processes most of the rare-earth metals used in electric vehicles.” (said 3 January 2023). Verdict: resolved true. Reliability API, claim c_1c9d548ac64e, method 0.1.0+c876030c, dataset release v1.1.2. https://epistacklabs.com/claims/c_1c9d548ac64e

This claim is in dataset release v1.1.2, with the same verdict.

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All of them

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