Mining Executive Urges EU to Break China's Rare Earth Grip
A Brazilian rare earth supplier calls China's export dominance a critical risk as Trump and Xi prepare for a second summit.
The head of a mining company positioning itself as a future rare earth supplier to the European Union says breaking China's control over the critical minerals market is "paramount," warning that the industry remains "nervous" ahead of a high-stakes diplomatic meeting between Washington and Beijing.
Rafael Moreno, whose company has opened a demonstration plant in Brazil, made the remarks as U.S. President Donald Trump and Chinese President Xi Jinping prepared to hold their second summit of the year on Thursday. Rare earths are essential inputs for electric vehicles, wind turbines, and military aircraft, and China dominates their global supply chain.
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Moreno described it as "imperative" that Trump and Xi reach an agreement that would prompt Beijing to again pull back on threatened export bans targeting the minerals. China has previously used the prospect of rare earth export restrictions as leverage in broader trade and geopolitical disputes, creating uncertainty for manufacturers and governments that depend on a steady supply.
Moreno's company expects to be in a position to supply the EU within two years, part of a wider push by Western governments and private investors to develop alternative rare earth sources and reduce strategic dependence on China. The EU has identified rare earths as critical raw materials and has been actively seeking diversified supply chains under its own legislative framework.
The timing of Moreno's comments underscores the degree to which commodity markets and emerging mining ventures are tracking diplomatic developments between the world's two largest economies. Continue reading at Business | The Guardian.
