By now, you know the U.S. needs to secure rare earth outside of China.
All as China proves to be an unstable partner that could enact tougher regulations over the rare earth industry, from mining to exports. “The new rules would give Beijing greater control over the supply of materials that have become vital for high-tech manufacturing around the world. China accounts for more than 60% of global rare-earth production, and its exports sank to a five-year low in 2020,” as reported by Nikkei Asia.
In addition, according to Forbes, China is stockpiling rare earths and critical minerals for its own domestic use, as companies and governments face worldwide shortages due to new demand for electric vehicles.
With the U.S. in desperate need for these metals, consider MP Materials (MP), which owns and operates the Mountain Pass site.
According to the company site:
“MP Materials helps fuel the electrification of global infrastructure. We are the largest producer of rare earth materials in the Western Hemisphere, through our state-of-the-art, zero-discharge operations in Mountain Pass, California. We currently deliver approximately 15% of global rare earth supply with a long term focus on Neodymium-Praseodymium (NdPr), a crucial input to the powering of electric vehicles, wind turbines, drones, robots and many other advanced technologies. As electrification and advanced clean technologies proliferate, MP Materials is the American leader in delivering sustainable products for sustainable industry while also closing a critical gap in U.S. economic and national security.”
