How the trade war is turbocharging an American rare earth mine: ‘it's all changed'
The CEO of USA Rare Earth – a company launched in 2019 with the goal of reviving America's rare earth magnet supply chain – was having a hard time raising capital from Wall Street until a few months ago.
China has dominated the rare earths sector for decades, with its firms having a huge competitive advantage due to their lower costs and massive capacity, making the American company's vision a tough sell to investors.
But then came US President Donald Trump's return to office. After a US tariff blitz led Beijing to
impose export controls on seven rare earth elements, America's vulnerability was exposed in vivid fashion as a string of blue-chip American companies warned that a lack of magnets could soon
disrupt their production
All of a sudden, the investment environment 'all changed', Ballard said, and the CEO has been quick to take advantage.
'We're looking at how we can accelerate,' he told the Post in an interview near his home in the San Francisco Bay Area. 'We want to be a major player in this.'
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