China Strategically Manipulating Strategic Mineral Markets and Disadvantaging the West, Expert Says

Mining

During a visit to Portugal, a senior U.S. official claimed that China is flooding the market in lithium as a “predatory” tactic to drive down global prices and beat back competition. If prices are low, the theory goes, it’s hard to attract investors and make mine development in the West economically attractive. 

Reuters reported Jose Fernandez, undersecretary for economic growth, energy and the environment at the U.S. Department of State said at a briefing earlier this month that China was looking at the U.S. Inflation Reduction Act, which provides government funding for the development of critical minerals and domestic manufacturing, and responding to the competition it may create. 

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Rare Earth Mineral Mines Shutter as Demand for Electric Vehicles Plummet

Ablemarle Corporation mining site

A slowdown in the growth of electric vehicle (EV) demand has led to entire mines being shut down as the supply of rare earth minerals essential for EV components exceeds demand, according to The Wall Street Journal.

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