US minerals push starts to dent China’s grip: WSJ
Washington is boosting support for mines and processing due to China's rare earth export controls since April 2025.
The United States' ambitious $20 billion initiative to reduce China's dominance in critical minerals is starting to impact global supply chains, according to The Wall Street Journal. Following China's April 2025 export controls on rare earth elements, the Trump administration has accelerated its strategy, which includes equity investments, loans, price guarantees, and off-take agreements.
Over 180 critical-minerals projects have been advanced, with U.S. non-equity investments in rare earth and magnet projects reaching $7.6 billion in the 18 months leading up to June, a fourfold increase from the 2020-2024 period. The Pentagon's $400 million investment in MP Materials, a loan of $150 million to Lithium Americas for its Nevada Thacker Pass project, and Energy Fuels' $725 million loan commitment are notable examples.
The U.S. is also forging overseas mineral-development agreements with countries such as Australia, Japan, Brazil, Argentina, Uzbekistan, and the Democratic Republic of Congo. While China maintains a strong grip on mining, separation, and refining of strategic materials, the U.S. strategy aims to create alternative supply chains over the next decade.
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