Latest news with #criticalMinerals
South China Morning Post
17 hours ago
- Business
- South China Morning Post
Ahead of US-China talks, China's rare earth trade data from May shows leverage in action
In a reflection of Beijing's ability to quickly leverage its dominance over the critical-mineral supply chain, the value of rare earth elements exported by China last month plunged by nearly half compared with a year prior. The official data came as analysts have been saying that China's export controls over large quantities of critical minerals are like the ultimate trump card in trade negotiations with the United States. The world's second-largest economy exported rare earth elements worth US$18.7 million last month, marking a yearly drop of 48.3 per cent, according to figures released on Monday by the General Administration of Customs. The data included exports of all kinds of rare earth elements, not just the ones on which Beijing has imposed controls. May's value also represented a 13.7 per cent monthly decline, from US$21.7 million in April. In terms of weight, 5,864.6 tonnes of rare earth elements were shipped from China in May – a year-on-year decline of 5.67 per cent that ended three consecutive months of yearly export growth since February, according to the data, compiled by financial data provider Wind. Still, the cumulative amount of exported rare earths in the first five months stood at 24,827 tonnes, 2.3 per cent higher than the same period last year.
Bloomberg
6 days ago
- Business
- Bloomberg
Trump, Xi Have Crossed Wires on Rare Earths, Trade Expert Says
The US and China appear to have different understandings of what was agreed on rare earths at last month's trade talks in Geneva, according to an expert on critical minerals policy. China's exports of the materials used in critical technology from fighter jets to smartphones have become a major flashpoint between the world's top economies, with US officials alleging Beijing hasn't honored a commitment to resume shipments. A supply shortfall has already affected some American companies.
CTV News
6 days ago
- Business
- CTV News
Eby's trade mission continues
Eby's trade mission continues Day two of the B.C. premier's trade mission to Asia included a stop in Osaka and meetings with investors in energy and critical minerals.
E&E News
21-05-2025
- Business
- E&E News
Interior mulls first offshore mineral lease in 30 years
The Interior Department on Tuesday said it's begun the process of evaluating a possible offshore mineral lease sale in U.S. waters off American Samoa, the first such auction of its kind in more than three decades. In doing so, Interior Secretary Doug Burgum said the agency was advancing President Donald Trump's vision for boosting domestic production and deep-sea mining and paving a path for possible future extraction of critical minerals from the outer continental shelf. 'Critical minerals are fundamental to strengthening our nation's resilience and safeguarding our national interests,' Burgum said in a statement. 'By providing opportunities to responsibly access deep-sea mineral resources, we are supporting both American economic growth and national security.' Advertisement But the Trump administration's move to accelerate mineral production across the nation — from the arid West to the bottom of the ocean — is fueling concerns about vulnerable species and pollution and drawing legal threats.
Bloomberg
21-05-2025
- Business
- Bloomberg
Ontario to Spend $2.2 Billion on Indigenous Role in Mining
The Ontario government will spend nearly C$3.1 billion ($2.2 billion) to encourage Indigenous participation in the mining industry, in a bid to ramp up critical minerals production across Canada's most populous province. Premier Doug Ford's government said Wednesday that most of the money will go to loan guarantees that enable Indigenous business groups to invest in Ontario mining projects. Funds will also go toward grants and scholarships for Indigenous students interested in careers in mining and resource development.
