The world’s largest rare-earth miner, China, is reportedly trying to calculate the damage to US defense contractors if it moves to curb supplies of the minerals vital for the country’s weapons industry.
Chinese government officials reached out to industry executives, seeking to understand how badly companies in the US and Europe would be affected if China imposed restrictions on rare-earth exports, the Financial Times reported, citing sources involved in the consultations. Additionally, Beijing reportedly asked how long it would take the US to boost its own production of the vital elements or find alternative sources.
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