Security, Human Rights, and Environment Concerns
China is the world’s leading producer or processor of several critical minerals, including rareearth elements, graphite, and antimony.
“China controls 85 percent of the rareearthminerals. They're called rareearth because they're measured in parts per million. China is moving hundreds of thousands of pounds of earth, in Indonesia and Africa.
Over the past decades, Beijing has monopolized the processing of rareearths, critical minerals essential for modern manufacturing and advanced weapon systems.
Announced in December and backed by $3.8 billion in funding in the federal Budget 2022, the strategy serves as the guideline for Canada's mining and processing of critical minerals and rareearth elements.
But whatever lessons Xi takes away from the Ukraine crisis, imposing sanctions on Beijing over a Taiwan invasion might be a difficult proposition given the communist regime’s dominance of the markets for cobalt, lithium, and other rareearthminerals.
Cohen also expressed concern over China strengthening its geopolitical power by acquiring critical rare-earthminerals or taking over key sectors in Canada.
And the year gives the United States time to ramp up its own supply chain of rareearths.
The sense of urgency to reach rare-earth independence has never been higher.
Rare-earth magnets are displayed in the showroom at Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. in Baotou, Inner Mongolia, China, on May 5, 2010.
“This is the Manhattan Project moment for rareearths,” said Joshua Ballard, CEO of USA RareEarth, which plans to begin making rare-earth magnets next year.
According to the GCM website, the mineral sands mine at Glenaladale will access a nationally-significant deposit of rareearth elements and critical minerals that will be vital to supporting new technologies in renewable energy, computing, defence and
Zelenskyy had traveled to Washington to sign an economic cooperation agreement, largely focused on giving the United States access to Ukraine’s rareearth and critical mineral deposits in exchange for U.S. military aid in its war with Russia.
American industries, including our defense industrial base, are currently under immense pressure from China’s export restrictions on mineral exports—including rareearth metals.
"It goes down to if you have a rareearthmineral mine in your country, but it’s a Chinese company that’s mining it, they count that towards their comprehensive national power, not yours, because that is feeding into their systems.
December 25, 2022By Jan Jekielek, Venus Upadhayaya
Similarly, it uses economic leverage on trade, rareearths, and other minerals to intimidate U.S. lawmakers and security leaders to stand down and restrain our policy options to deal with China.
Critical Minerals
Beijing's move earlier this month to issue sweeping restrictions on rareearths heightened global tensions ahead of the Trump–Xi meeting.