China places two US rare earths producers on export control list
China has imposed export controls on two US rare earth producers that are part of Washington’s effort to establish alternative supply chains for minerals critical to advanced manufacturing and defense.
MP Materials Corporation and USA Rare Earth have been added to China’s export control list, the Commerce Ministry said in a statement Monday.
The designation bans Chinese exporters from shipping items to these companies that can be used for commercial and military purposes. Organizations and individuals from any country or region are also prohibited from transferring or providing dual-use items originating in China to them, the Commerce Ministry said.
China also placed eight other US companies, including drone makers and robotics and aerospace firms, on the export control list.
MP Materials is a key US miner and processor of rare earths, in which the Pentagon holds a stake. USA Rare Earth is an emerging producer of the minerals.
Both companies have been building up their capacity over the past year after China last April imposed export controls on key rare earths and magnets made from them.
The latest decision by Beijing comes days after the Group of Seven countries reached an agreement to cap imports of rare earths from any single country outside the bloc and its partners to below 60% by 2030 in an effort to reduce their reliance on China.
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