By Eric Onstad and Amy Lv LONDON/BEIJING (Reuters) -Prices of two rare earth elements needed for super-strong magnets have surged to their highest in more than two years after U.S. miner MP Materials (MP) stopped raw material exports to leading magnet maker China amid rising demand. China dominates the global supply chain for rare earths,…
Rare earths are needed for everything from consumer electronics to electric vehicles, wind turbines and fighter jets – and China controls the supply chain. In the third of a four-part series, we look at how Beijing’s dominance in the critical minerals is matching up to Washington’s lead in artificial intelligence, as well as how they…
(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…