China dominates the global market in rare earth metals, and China appears to be using disinformation to stymie US efforts to change that.
Western nations must not allow production of critical minerals and metals to be concentrated in countries "that can't be trusted," Canada's Natural Resources Minister Jonathan Wilkinson said
The fresh deposits raise China's reserves to more than 2 million tonnes, which is almost on a par with uranium-rich Australia
Relying only on domestic or Canadian sources, the Department of Defense said, "unnecessarily constrains" the DPA programme's ability to "ensure a robust industrial base."
The EU is spearheading a drive to boost domestic production of rare earths and super strong magnets used in EVs and wind turbines to cut dependence on China
Rare earths prices have soared since the second half of 2021 over supply chain uncertainty from Myanmar and strong demand
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
Combined entity would account for about 70% of China's heavy rare earths production based on quotas for the first half of 2021
China is expanding Baotou Rare Earth High and New Tech Industrial Development Zone in Inner Mongolia, as the country maintains its grip on the majority of the world's rare earths trade
Ministry says China will increase oversight and boost production of the 17 rare earth minerals to 140,000 tonnes this year from 120,000 tonnes last year