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China’s rare earth mining boom in the 1990s, fueled by lax regulation, led to dominance in magnet production. Backed by the state, Chinese firms partnered with US investors to acquire GM’s Magnequench and France’s Ugimag.

By 2004, US magnet plants were shut down, equipment shipped to China, and America’s domestic industry dismantled — cementing China’s global control of rare earth magnets.

The foresight the Chinese have is something to behold. I wish Western Govts had even 5 years of foresight.... the Chines have 25 years

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🚁Airwolf🚁

In 2015 there was a meeting in Kabul, Afghanistan with all these diplomatic dignitaries from mainly the West & China, vying for mineral rights in Afghanistan. Afghanistan is sitting on 1 trillion (at a minimum) worth of minerals. I was blown away at the figures. I thought the U.S. would clearly get dibs on mining rights ( I was wrong). China had rights to a copper mine, but weren't mining at the time.

Aaron

US politicians are the most short sighted leaders on the planet. They cannot see past the next election.

hennie

time to be more modest instead of being the bully of the world.

docbonz

We will be pulling the materials right out of the ground here in no time. MP mining just inked with the Pentagon to give them 15% of the take. 160 trillion dollars right here on the homeland. James check it out!!!! I sniffed this one out about 45-60 days ago under 20 bucks, looking at the macro... it's over 70. They inked the deal about a month ago.....NFA

Chewie

Nothing new. Wish I bought MP Mining when I first heard of it

Cpk2001

I remember visiting Taiwan in the 1980s and taking Japanese law at Columbia in the 1980s. Both mindsets were to dominate markets. Period. Not this quarter but eventually. Patience. The Western world only seems to care about today and this quarter. The Western world needs to learn patience.

Cmoney$$

Surprised they thought magnets were going to be so important that many years ago, yeahhh the west is so slow… we have plenty of land to mine rare earths but we are too far behind to begin with

7even0

Unless the US embrace Solar and rare earths with war time enthusiasm (and soon), the Chinese have already won.

Hobbit

Many in the government aren't stupid. They see the writing on the wall. No way this is all sustainable and it's a train out of control...so they try to get / do what they can, with a short time-horizon outlook, because I think most know it's not a long-term game that the US government can play. Too many interests looting through taxation, etc.

Hobbit

Fidelity rates them a 1.5 (scale of ten), based on average of many analysts (meaning sell). Never have I seen any consistency in those ratings and what happens going forward. They seem so unreliable and I was just curious. Tardfi. Seems like a good narrative, for sure.