Latest news with #critical minerals
Yahoo
a day ago
- Business
- Yahoo
Chinese exports of two critical minerals plunge even as rare earths rebound
By Lewis Jackson BEIJING (Reuters) -China's exports of two critical minerals used in weapons, telecommunications and solar cells have plunged over the past three months amid a crackdown on smuggling and transshipment that has involved China's top spy agency. Exports of antimony and germanium in June were down 88% and 95%, respectively, versus January, according to customs data published on Sunday. Much as with rare earths, China is by far the largest miner and or refiner for both elements. Both were added to an export control list in 2023 and 2024, respectively. Exports to the U.S. were then banned in December as part of retaliation for chip restrictions. Rare earths were added to the same control list in April, precipitating a sharp collapse in export volumes that forced some carmakers in Europe and the U.S. to pause some production lines. But where rare earth export volumes rebounded sharply last month thanks to a deal struck between Washington and Beijing, exports of germanium and antimony fell to some of the lowest levels on record. The collapse in export volumes coincides with well-publicised crackdown on critical mineral export control evasion. China's spy agency said last week it had detected attempts to bypass controls via transshipment, where cargoes move through a third country before going on to their final destination. The week before Reuters reported that unusually large quantities of antimony were being exported to the United States from Thailand and Mexico in what appeared to be transshipment conducted by at least one Chinese company. China's exports of antimony to Thailand have collapsed by 90% after hitting a record in April. There have been no exports to Mexico since April. Spot market prices for high-purity germanium have more than doubled since China imposed export restrictions in July 2023. Antimony prices have nearly quadrupled from May last year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Chinese exports of two critical minerals plunge even as rare earths rebound
By Lewis Jackson BEIJING (Reuters) -China's exports of two critical minerals used in weapons, telecommunications and solar cells have plunged over the past three months amid a crackdown on smuggling and transshipment that has involved China's top spy agency. Exports of antimony and germanium in June were down 88% and 95%, respectively, versus January, according to customs data published on Sunday. Much as with rare earths, China is by far the largest miner and or refiner for both elements. Both were added to an export control list in 2023 and 2024, respectively. Exports to the U.S. were then banned in December as part of retaliation for chip restrictions. Rare earths were added to the same control list in April, precipitating a sharp collapse in export volumes that forced some carmakers in Europe and the U.S. to pause some production lines. But where rare earth export volumes rebounded sharply last month thanks to a deal struck between Washington and Beijing, exports of germanium and antimony fell to some of the lowest levels on record. The collapse in export volumes coincides with well-publicised crackdown on critical mineral export control evasion. China's spy agency said last week it had detected attempts to bypass controls via transshipment, where cargoes move through a third country before going on to their final destination. The week before Reuters reported that unusually large quantities of antimony were being exported to the United States from Thailand and Mexico in what appeared to be transshipment conducted by at least one Chinese company. China's exports of antimony to Thailand have collapsed by 90% after hitting a record in April. There have been no exports to Mexico since April. Spot market prices for high-purity germanium have more than doubled since China imposed export restrictions in July 2023. Antimony prices have nearly quadrupled from May last year.
Yahoo
2 days ago
- Business
- Yahoo
Chinese exports of two critical minerals plunge even as rare earths rebound
By Lewis Jackson BEIJING (Reuters) -China's exports of two critical minerals used in weapons, telecommunications and solar cells have plunged over the past three months amid a crackdown on smuggling and transshipment that has involved China's top spy agency. Exports of antimony and germanium in June were down 88% and 95%, respectively, versus January, according to customs data published on Sunday. Much as with rare earths, China is by far the largest miner and or refiner for both elements. Both were added to an export control list in 2023 and 2024, respectively. Exports to the U.S. were then banned in December as part of retaliation for chip restrictions. Rare earths were added to the same control list in April, precipitating a sharp collapse in export volumes that forced some carmakers in Europe and the U.S. to pause some production lines. But where rare earth export volumes rebounded sharply last month thanks to a deal struck between Washington and Beijing, exports of germanium and antimony fell to some of the lowest levels on record. The collapse in export volumes coincides with well-publicised crackdown on critical mineral export control evasion. China's spy agency said last week it had detected attempts to bypass controls via transshipment, where cargoes move through a third country before going on to their final destination. The week before Reuters reported that unusually large quantities of antimony were being exported to the United States from Thailand and Mexico in what appeared to be transshipment conducted by at least one Chinese company. China's exports of antimony to Thailand have collapsed by 90% after hitting a record in April. There have been no exports to Mexico since April. Spot market prices for high-purity germanium have more than doubled since China imposed export restrictions in July 2023. Antimony prices have nearly quadrupled from May last year.
Reuters
2 days ago
- Business
- Reuters
Chinese exports of two critical minerals plunge even as rare earths rebound
BEIJING, July 21 (Reuters) - China's exports of two critical minerals used in weapons, telecommunications and solar cells have plunged over the past three months amid a crackdown on smuggling and transshipment that has involved China's top spy agency. Exports of antimony and germanium in June were down 88% and 95%, respectively, versus January, according to customs data published on Sunday. Much as with rare earths, China is by far the largest miner and or refiner for both elements. Both were added to an export control list in 2023 and 2024, respectively. Exports to the U.S. were then banned in December as part of retaliation for chip restrictions. Rare earths were added to the same control list in April, precipitating a sharp collapse in export volumes that forced some carmakers in Europe and the U.S. to pause some production lines. But where rare earth export volumes rebounded sharply last month thanks to a deal struck between Washington and Beijing, exports of germanium and antimony fell to some of the lowest levels on record. The collapse in export volumes coincides with well-publicised crackdown on critical mineral export control evasion. China's spy agency said last week it had detected attempts to bypass controls via transshipment, where cargoes move through a third country before going on to their final destination. The week before Reuters reported that unusually large quantities of antimony were being exported to the United States from Thailand and Mexico in what appeared to be transshipment conducted by at least one Chinese company. China's exports of antimony to Thailand have collapsed by 90% after hitting a record in April. There have been no exports to Mexico since April. Spot market prices for high-purity germanium have more than doubled since China imposed export restrictions in July 2023. Antimony prices have nearly quadrupled from May last year.
Forbes
5 days ago
- Business
- Forbes
DoD Is The Largest Investor In Only American Rare Earth Mineral Mine
Rare earth and critical minerals are essential to powering today's modern and digital world Under the 1933 Buy American Act and the 1941 Berry Amendment, the United States military is generally required to buy American-made products. The laws further prioritize domestic sourcing for goods, and that products for military use contain a certain percentage of U.S. components and materials. Where that has been a problem is in the increasingly reliance on components that require rare earth minerals, which the United States has a limited supply of, while upwards of 70% are imported from China. To help address the issue, the U.S. Department of Defense announced last week that it had acquired a 15% stake in the MP Materials mine, becoming the company's largest shareholder. MP Materials, the operator of the only American rare earths mine, received a $400 million investment from the Pentagon, which will help fund the processing capabilities at its Mount Pass, California, facility and enable the construction of a second magnet manufacturing plant. "It's strategically important for the Pentagon to ensure that its Tier 1 industrial base has access to U.S.-sourced rare earth metals and magnets," explained David Argyle, CEO of REalloys Inc., a company focused on the production of rare earth elements and high-performance magnet materials. "The MP DoD transaction provides a very healthy base load of supply to meet demand," Argyle added, but acknowledged that additional US sources need to be available commencing in 2026, 2027, and beyond. Greater Investment Is Needed There has already been speculation that President Donald Trump could use emergency powers to allow the United States to gain greater control over domestic industries and resources. The Defense Production Act, a Cold War-era law that grants the president significant emergency authority to control domestic industries, was invoked by Trump during his first term and by former President Joe Biden during the pandemic. However, investments are also needed, suggested Brandon Daniels, CEO of AI supply chain company Exiger. "Critical minerals are the lifeblood of our defense capabilities. Everything from specialized engine components for high heat environments to navigation systems demands rare earth minerals at the beginning of the supply chain," said Daniels. "It's a national security imperative that the defense department use its resources to create sustainable independent streams of these resources." The $400 million investment shouldn't be seen as too little or too late. "The Pentagon is doing this because it's not always economically viable to invest the capital expenditure at the beginning of the process, and the U.S. ought to accelerate its access to these minerals," added Daniels. Such strategic investment in rare earths and critical minerals is a crucial step in securing our domestic supply chain and enhancing national security. Still, it is just part of the solution. "The defense industry depends on these strategic materials for everything from weaponry, base operations, to communications and other additional technologies," noted David Klanecky, CEO of lithium battery recycling firm Cirba Solutions. "Investment by the Department of Defense demonstrates a prioritization of this key market, brings urgency to the sector, and underscores the importance of developing a reliable supply at home rather than depending on raw material imports from foreign entities of concern." Waste Not, Want Not Without stable access to rare earths and critical minerals, our national security is at significant risk. To this end, the U.S. military needs to be far less disposable. As with consumer products that end up in landfills, a vast amount of valuable materials is never harvested and reused. "It is also important to look at the supply chain holistically and invest in all domestic manufacturing," Klanecky added. "For example, battery recycling can significantly boost domestic production and refinement of critical minerals, and it is one of the most immediate and scalable ways to secure supply and keep valuable materials in circulation in the U.S. long after they've been extracted." More Efforts Need To Be Made The $400 million investment by the Pentagon should be viewed as a positive first step, but it is far from resolving a problem that has been decades in the making. "The one mining project won't be enough to fulfill all demand for all rare earths that are used in advanced technologies," warned Daniels. "But it is a big step in the right direction," Daniels continued. "Between this type of mining and the advancements in recycling, we can achieve independence for many of our most critical rare earths. For instance, with coal ash leaching in the United States, we could generate enough germanium to supply all of our Semiconductor, Photovoltaic, and Fiber Optic cable needs." The growing need for rare earths is just one of several problems that the Pentagon faces, along with manufacturing supply chain challenges, an aging workforce at America's shipyards, and cost overruns on nearly all its programs. However, the demand for rare earths needs to be taken as seriously as the other issues, yet there is no easy solution. "Rare earth and critical minerals are essential to powering today's modern and digital world. Meeting the growing demand for these materials will require a comprehensive strategy that includes investment, partnerships, and an overall diversified approach across extraction, refinement, and recycling," said Klanecky. "Taking this holistic view of the supply chain is necessary if the U.S. wants a long-term solution to creating a stable domestic supply and enabling the country to achieve national security goals."
