Micah McCartney
The discovery of an enormous rare-earth deposit in southwestern China will strengthen the country's stranglehold on this strategically vital resource and fuel its high-tech ambitions.
Newsweek has reached out to the China Geological Society and U.S. Geological Survey with emailed requests for comment.
Why It Matters
Rare-earth elements (REEs) are essential to a range of high-tech applications, from electric vehicles and smartphones to radar and guided-missile systems. China controls some 70 percent of worldwide rare earth output and over 90 percent of refining capacity.
The U.S. imports nearly all its rare-earth elements, with China supplying 72 percent between 2019 and 2022, according to the U.S. Geological Survey. Washington views Beijing's dominance—and its willingness to ban exports of critical elements such as gallium amid the great tech war—as a critical threat to national security.
What To Know
The high-volume reserve of rare-earth elements discovered in the Honghe region of Yunnan Province is estimated to contain 470,000 tons of rare earth elements, state media cited the China Geological Survey as saying last week.
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