Proposals to dismantle the chokepoint – including new technologies and development of components that do not require the critical minerals as inputs – were presented during a hearing of the US House Select Committee on China.
The suggestions came as frustration builds over the slow pace of US mining and processing and China’s de facto control of global prices. New technologies that could replace rare earths in critical components, however, remain years away.
“We’re chasing tails. I don’t think we’re ever gonna get to the point that we’re gonna be able to compete with the Chinese on the rare earth issue, I really don’t,” Carlos Gimenez, a Republican US congressman for Florida, said at the hearing.
“I think the Chinese are so far ahead, it’s impossible for us to catch up.”
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What are rare earths, and why is China’s dominance facing global pushback
What are rare earths, and why is China’s dominance facing global pushback
Executives from three major US mineral companies – rare earth miner MP Materials, Lithium Americas and Niron Magnetics – were invited to testify at the hearing, which focused on China’s dominance in global pricing power and possible US responses.
