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.
Sentiment: MIXED
Tickers: GS, TSLA, AMZN, MP, LYC-AU,
Keywords: lynas rare earths ltd, alternative and sustainable energy, technology, metals and minerals industry, china, politics, metal commodities, amazon.com inc, bank of america corp, business news, united states, mp materials corp, metals, tesla inc, energy, asia economy, goldman sachs group inc,
Source: https://www.cnbc.com/2021/04/17/the-new-us-plan-to-rival-chinas-dominance-in-rare-earth-metals.html