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China Targets US Rare Earths Firms in Response to Pentagon List
Bloomberg • • general
Key Points:
- China has imposed export controls on two US rare earth producers, MP Materials Corp. and USA Rare Earth Inc., as part of efforts to safeguard national security and interests.
- The move comes amid Washington's push to reduce dependence on Beijing by developing alternative supply chains for critical minerals.
- The Chinese Commerce Ministry announced the inclusion of these companies on its export control list on Monday.
- The restrictions are largely symbolic, as both US companies report having mostly ceased sourcing equipment and materials from China.
