The new U.S. plan to rival China and end cornering of market in rare earth metals
Excerpt from CNBC:
Key Points:
In 2019, China was responsible for 80% of rare earths imports, according to the U.S. Geological Survey, although exports fell last year in part due to Covid-19.
Rare earths elements are more abundant than their name suggests but extracting, processing and refining the metals poses a range of technical, political and environmental issues.
The Biden administration and Department of Energy have targeted rare earths among domestic supply chain priorities as they outline ambitious climate and technology policy.