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The new U.S. plan to rival China and end cornering of market in rare earth metals - TL;DR CNBC

The new U.S. plan to rival China and end cornering of market in rare earth metals

Publishing timestamp: 2021-04-17 13:00:01


Summary

The Biden administration is focusing on rare earths as a domestic supply chain priority, aiming to reduce reliance on China. Companies like MP Materials and Lynas Corporation are working to ramp up domestic production, but challenges remain in terms of environmental concerns, technical expertise, and political factors. Recycling and alternative methods are being explored to meet the growing demand for rare earths in industries like electric vehicles. Working with allies like the European Union may be the best approach to reduce reliance on China in the long term.


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Keywords: lynas rare earths ltdalternative and sustainable energytechnologymetals and minerals industrychinapoliticsmetal commoditiesamazon.com incbank of america corpbusiness newsunited statesmp materials corpmetalstesla incenergyasia economygoldman sachs group inc

Source: https://www.cnbc.com/2021/04/17/the-new-us-plan-to-rival-chinas-dominance-in-rare-earth-metals.html


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