Overview

• China controls over 90% of global rare earth magnet processing and requires special export licences for seven key elements.
• President Trump announced that China will front-load shipments of magnets and rare earth minerals to US companies as part of a preliminary trade pact with Beijing.
• India has nearly 30 rare earth import applications pending Chinese clearance and is organizing an executive delegation to Beijing to negotiate access.
• The US Defense Department has committed $439 million to build a domestic mine-to-magnet supply chain and MP Materials is seeking financing for a new processing facility.
• A Chinese-backed militia has secured new rare earth mining operations in Myanmar to help sustain Beijing’s strategic leverage over critical minerals.