Mining Exec Urges EU to Break China's Rare Earth Grip
A Brazil-based supplier says ending China's dominance over rare earths is 'paramount' as Trump and Xi prepare for a new summit.
The chief executive of a mining company positioning itself as a future rare earth supplier to the European Union is calling on Western nations to urgently reduce their dependence on China for the critical minerals that underpin modern industry and defense. Rafael Moreno, whose firm has opened a demonstration plant in Brazil, described the current market as "nervous" ahead of a high-stakes diplomatic encounter between the United States and China.
Moreno said it was "paramount" to break Beijing's stranglehold on rare earth supply chains — materials essential to electric vehicles, wind turbines, and military aircraft. The remarks carry added weight as President Donald Trump and Chinese President Xi Jinping prepare to meet Thursday in their second summit of the year, with rare earth export restrictions expected to be a central point of tension.
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Moreno also characterized a deal to ease China's threatened ban on rare earth exports as "imperative," signaling that even potential alternative suppliers recognize the short-term leverage Beijing still holds over global markets. His company is targeting EU supply contracts within approximately two years, suggesting that meaningful diversification remains at least a medium-term proposition rather than an immediate remedy.
The standoff over rare earths has intensified as the broader US-China trade dispute has escalated, with Beijing's potential export restrictions widely seen as a retaliatory tool. Analysts note that because China controls an outsized share of both mining and processing capacity for these materials, any disruption would ripple quickly through supply chains across Europe, North America, and Asia.
Continue reading at Business | The Guardian.