China

US-China rivalry: Pentagon invests US$12.7 million in rare earth producers to reduce reliance on China




The US Department of Defence has invested more than US$12.7 million in three American producers of rare earth metals as the country seeks to reduce its dependence on China for the much sought-after raw materials.The main beneficiary is MP Materials, which owns the Mountain Pass rare earth mine in California – the world’s largest outside China – and was granted US$9.6 million, according to a statement issued by the Pentagon on Monday.The money would be used to pay for the construction of new…



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