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China's spy agency attacks foreign efforts to 'steal' rare earths

China's spy agency attacks foreign efforts to 'steal' rare earths

Straits Times7 days ago
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FILE PHOTO: A sample of antimony is displayed at the Natural History Museum in London, Britain, June 6, 2025. REUTERS/Isabel Infantes/File Photo
BEIJING - China's Ministry of State Security on Friday said foreign spy agencies had tried to "steal" rare earths and pledged to crack down on infiltration and espionage targeted at its critical mineral sector.
Foreign intelligence agencies and their agents had colluded with "domestic lawbreakers" to steal rare earth-related items from China, posing a serious threat to China's national security, the spy agency said in a statement on its WeChat account without naming any specific country.
The ministry said it had detected attempts by an unnamed country to bypass export restrictions by forging labels, falsifying cargo manifests and transshipping cargoes, where products are routed through third countries before going to their final destination.
Reuters reported exclusively this month that unusually large quantities of antimony - a metal used in batteries, chips and flame retardants - appeared to have been transshipped into the United States via Thailand and Mexico after China banned U.S. exports.
China added several rare earths and related magnets to its export restriction list in early April in retaliation for U.S. tariffs.
The decision rattled global supply chains key to electric vehicles, robots and defence, forcing some automakers outside China to partially suspend production due to shortages.
However, China's rare earths exports rose 32% in June from the month before in a potential sign that agreements reached last month between Washington and Beijing to free up the flow of the metals are bearing fruit.
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Nvidia's planned resumption of sales of its H20 AI chips to China was part of the rare earth negotiations. REUTERS
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Find out what's new on ST website and app. Following the latest announcements, the benchmark Straits Times Index reached an all-time high of 4,273 points on July 24. SINGAPORE - Efforts to revitalise Singapore's equities market are showing promise, with the benchmark Straits Times Index reaching an all-time high of 4,273 points on July 24 , following the latest announcements. However, analysts caution that there is still a lack of clarity on how the appointed asset managers will execute their strategies to effectively support local companies and boost market liquidity. This comes in response to the Monetary Authority of Singapore's (MAS) July 21 announcement allocating an initial $1.1 billion to three asset managers to invest in the Singapore stock market. Avanda Investment Management, Fullerton Fund Management, and JP Morgan Asset Management were appointed to manage the first $1.1 billion tranche under the $5 billion Equity Market Development Programme announced in February. 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