The state planning body plans to boost output and reserves of oil, gas, as well as coal, which powers more than 60% of China's electricity generation plants

But any increase in output is not likely to be significant due to environmental requirements, Yang Wenhua of Shanghai Metals Market told S&P Global Intelligence.

Rare earths prices have soared since the second half of 2021 over supply chain uncertainty from Myanmar and strong demand

Demand for neodymium and praseodymium, some of the most important minerals that Lynas mines, has soared in recent years as countries and companies try to tackle climate change

The US is concerned that low output of minerals essential to build future tech may leave it beholden to China and others that have heavily invested in mining

Industrial materials firm Syrah plans to add 180,000 square feet of real estate to its existing 50,000 square-foot Louisiana facility

Shenghe plans to buy a 19.9% stake in Australia's Peak Rare Earths, which runs a project in Tanzania, to secure more overseas resources amid surging prices.

The Chinese price of praseodymium-neodymium alloy, used to make super strong magnets for EV motors, doubled last year and has already shot up 10% this year

Ahead of a visit to Beijing, he said there were "substantial" financial, industrial, technological and human resource opportunities for Russia and China

The Australian government agreed on Wednesday to provide a US$100m loan to fund the Yangibana rare earths mine proposed by Hastings Technology Metals in the Gascoyne region

Two US senators sent a letter to US Commerce Secretary Gina Raimondo complaining her department is hampering efforts to restrict exports to China chip maker SMIC.

Beijing also set the quota for smelting and separation, the ministries of Industry and Information Technology and Natural Resources said