Why the US Wants to Cut Ties with China's Rare Minerals

The US is pushing other countries to act fast on reducing their dependence on China for rare minerals. These minerals are crucial for defense tech, batteries, and renewable energy.

Key Discussions

• US Treasury Secretary will engage with finance leaders from:
• G7 countries
• EU
• Australia
• India
• South Korea
• Mexico

These nations represent a significant portion of the world's demand for these minerals.

US Efforts

The US has been advocating for serious action since a meeting in Canada last June. However, progress has been slow, frustrating the US as China controls a major share of these minerals.

• China refines most of the world's:
• Copper
• Lithium
• Cobalt
• Graphite
• Rare earths

The US is leading efforts to boost production in other countries, particularly through deals with Australia.

Recent Developments

This meeting follows reports of China restricting exports to Japan, though the US clarifies that the meeting was planned beforehand.