Beijing dominates the global supply of rare earths critical for modern technology
US President Donald Trump is set to build a strategic stockpile of critical minerals to reduce reliance on supplies dominated by China, Bloomberg has reported, citing sources.
Rare-earth minerals, used in technologies ranging from smartphones and electric vehicles to advanced weapons systems, have become a flashpoint in global trade. China dominates more than 90% of global rare-earth refining and nearly all permanent magnet production, giving it decisive control over supply chains vital to modern industry and defense.
People familiar with the matter told the…
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