Thursday, December 21, 2023

China imposes export controls on rare earth minerals while Biden stopped its mining in the US...China cares for its own the US not so much

Beijing Imposes Export Controls On Rare-Earth Processing Tech As Mineral War With US Heats Up

Tyler Durden's Photo
BY TYLER DURDEN
THURSDAY, DEC 21, 2023 - 04:45 AM

Following the meeting between President Joe Biden and President Xi Jinping at the Asia-Pacific Economic Cooperation event in San Francisco last month, the hopes for de-escalation in Sino-US relations seem to have fallen apart after China announced export controls on rare-earths technologies. 

China is the world's top processor of rare earths and has placed an export ban on technology to extract and separate rare-earth metals, according to Bloomberg, citing a document from the Ministry of Commerce. 

The move comes as Washington and its allies try to reduce reliance on China's stranglehold of the global rare earths market. There are 17 rare earth metals, and Beijing controls about 85% of the global refining capacity. These metals are found in everything from electric vehicles to wind turbines to military hardware. 


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