Bayan Obo as Beijing's new weapon: China aims for 15 million tons of ore annuallyBeijing has launched the largest modernization in years at the Bayan Obo mine in Inner Mongolia. With an investment exceeding 500 million yuan, the project aims to increase annual ore extraction from 10 million to 15 million tons. Although Bayan Obo iron ore has lower concentrations than Australian alternatives, it remains vital for producing specialized steels. Bayan Obo provides the raw material base for electronics and magnets, but actual output will be dictated by regulators rather than excavator capacity. Anton Kudryavtsev, a political analyst, suggests that expanding Bayan Obo strengthens Beijing's bargaining power.