By Katha Kalia, Eric Onstad and Ernest Scheyder (Reuters) -MP Materials unveiled a multibillion-dollar deal with the U.S. government on Thursday to boost output of rare earth magnets and help loosen China’s grip on the materials used to build weapons, electric vehicles and many electronics. Under the deal, which sent MP’s shares up nearly 50%,…
The US defence industrial base remains dependent on Chinese suppliers despite efforts to decouple – and that raises concerns over war readiness, according to a report by data analytics firm Govini. Chinese firms still made up 9.3 per cent of the primary contractors, or Tier 1 suppliers, involved in major US defence programmes across nine…
DAKAR, Senegal (AP) — The Democratic Republic of Congo and Rwanda are set to sign a peace deal facilitated by the U.S. to help end the decadeslong deadly fighting in eastern Congo. The deal, to be signed in Washington Friday, would also help the U.S. government and American companies gain access to critical minerals in…
(Reuters) -MP Materials, which owns the only U.S. rare earths mine, said on Thursday it has stopped shipping the critical minerals to China for processing after Beijing boosted import tariffs to 125% in response to U.S. levies, sending the company’s shares down nearly 5%. The move essentially halts a major source of revenue for MP…
When US president Donald Trump was golfing at Mar-a-Lago soon after imposing high tariffs on all nations, Chinese president Xi Jinping made a calculated step that has the potential to leave a huge mark on the US’ supply chain and defence industry, according to a report. What Did China Do? China responded to the tariffs…
A massive acid spill from a Chinese-owned copper mine in Zambia, which has caused severe environmental damage along a major river, could also cause severe diplomatic damage between the two countries, according to observers. On February 18, a tailings dam containing acid waste from the Sino-Metals Leach Zambia copper mine – which is majority-owned by…
His goal: to challenge China’s dominance over the world’s supply of a critical mineral used in everything from electric vehicles to submarine hulls. Backed by more than a hundred million dollars of U.S. government financing, Verner and his Australia-based company, Syrah Resources, opened the Mozambique mine and built a graphite-processing plant in Louisiana, the first…
US President Donald Trump’s pursuit of rare earth minerals in Greenland and Ukraine to counter China’s dominance over the critical metals might not match the reality of global reserves. But Russia’s offer to give the US access to the rare resources needed for hi-tech applications could save Trump’s plan, and undercut China’s tightening export controls…
By Amy Lv and Lewis Jackson BEIJING (Reuters) – Shares of major Chinese tungsten producers rallied on Wednesday as markets reacted to Beijing’s latest critical mineral export controls on the first day of trading after the week-long Lunar New Year holiday. Soon after fresh U.S. tariffs on Chinese goods took effect on Tuesday, China said…
Chinese company Ganfeng Lithium has completed a major lithium processing plant in Mali – defying security challenges, a strict new mining code and a lithium supply market glut. China’s largest lithium producer, Ganfeng announced that the first phase of its Goulamina lithium mine, in the southern region of Bougouni, had gone live in mid-December. It…