The US military is reportedly seeking to purchase up to $1 billion worth of minerals that are vital for the production of weapons
The US Department of Defense is scrambling to stock up on approximately $1 billion worth of rare earth minerals due to China’s new export controls covering materials that have a military use, Financial Times has reported.
According to the US Geological Survey, China accounts for nearly 70% of the global production of critical minerals, which play a key role in the manufacturing of most modern technologies and weapons systems.
In an article on Sunday, the outlet, citing public filings by the US Defense Logistics…
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