US minerals push starts to dent China’s grip: WSJ
The United States has advanced more than 180 critical-minerals-related projects, and government non-equity investment in rare earth and magnet projects reached $7.6 billion in the 18 months through June, more than four times the amount from 2020 through 2024, according to The Wall Street Journal. Washington's support takes the form of equity stakes, loans, price guarantees and offtake supports, including the Pentagon's $400-million purchase of MP Materials preferred shares and a conditional $725-million loan commitment to Energy Fuels from the Office of Strategic Capital. It has also struck more than two dozen mineral-development agreements with countries including Australia, Japan, Brazil, Argentina, Uzbekistan and the Democratic Republic of Congo.
Why it matters: It bears on critical-minerals supply-chain security: China retains commanding positions in mining, separation and refining, but CRU projects it will lose market share by 2030 in areas it now dominates.