Rare earths, controlled by China, are increasingly driving US geo-strategy – Agencia EFE
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Excerpt:
United States mediation in the conflict between Russia and Ukraine highlights Washington’s concern about the scarcity of rare earths, which have multiple applications in electronic and industrial materials and processes.
In the past five years, the market for critical minerals has doubled to 320 billion dollars and will likely double again by the end of the decade, according to a Goldman Sachs report.
Supply remains concentrated in China, which the same analysts estimate refines 85-90% of rare earths and produces 92% of rare earth magnets.
Enrique Feas, a researcher at the Real Instituto El Cano, told EFE that these materials are crucial for industrial production and that China has used its supply as a “warning” in the face of trade tensions.
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