Apple, China and rare-earth magnet
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The new restrictions will limit exports of technologies crucial for producing EV batteries and processing their raw materials.
July 7 (Reuters) - China's export restrictions on rare earths brought parts of the global auto supply chain to a halt and U.S. President Donald Trump to the negotiating table. But at home, they're a big headache for companies already struggling with a slow economy.
Following talks with the US thought to include reductions in critical mineral export restrictions, China reports 60 per cent jump in June shipments.
China's rare earths exports surged 32% in June, indicating progress in agreements to ease export restrictions.
China's rare-earth exports expanded significantly in June, maintaining a growth momentum from the previous month and compared with the same period last year, according to data released by the General Administration of Customs (GAC) on Monday.
When China began its crackdown on the sector some fifteen years ago, there were hundreds of miners and processors. By 2013 ten producers controlled almost all mining. Today, there are just two state-owned giants: China Rare Earth Group and China Northern Rare Earth Group High-Tech (600111.SS).
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Cryptopolitan on MSNChinese exporters were the biggest losers of China’s rare earth control measuresChina’s dominance in the rare earth supply chain has historically given it leverage over global markets. Its recent export restrictions, however, are having a
A recent assessment by Australian firm Earth Rarest estimated that Australia could supply up to 20 per cent of global demand for neodymium and praseodymium, but warned that a full replacement of Chinese supply across all 17 rare earth elements remains unlikely in the near term.
In the chaos of war, there’s nothing to stop Chinese firms from ravaging the landscape and extracting the minerals, which end up in China.
The deal would see the Defense Department take a 15% stake in MP Materials and spend billions of dollars investing in the company and purchasing its output.