Overview

• China’s Ministry of Commerce says it is accelerating export license reviews and has approved a limited number of rare earth magnet permits, but many applications face month-long delays.
• Manufacturers report hand-to-mouth operations, costly airfreight shipments and product redesigns as they cope with ongoing magnet shortages.
• The US and China remain in high-level talks to iron out implementation of June’s agreement to ease export controls and lower tariffs on critical minerals.
• India’s foreign ministry confirms it has held talks with Beijing to streamline rare earth supply ahead of a projected rise in magnet imports for its auto industry.
• Governments and industry groups are advancing efforts to diversify rare earth sources beyond China, including a G7 critical minerals action plan and investments in India, Australia and Russia.