China’s embargo on exports of key rare earth minerals poses a serious threat to the U.S. economy, defense capabilities, and technological edge. We rely on imports for strategic defense minerals, and China has cornered the market, controlling around 70% of rare earth mining and over 90% of processing and magnet production, which are indispensable for everything from F-35 jets to electric vehicles. As China is America’s chief adversary, it is vital that we break our dependency. This is not merely a good option, but a matter of survival.
President Donald Trump’s pact with Australia on access to rare earth minerals is a positive first step. Partnership between the United States, the world’s second most prolific rare earth mineral producer, and Australia, the world’s fourth largest, puts a small but meaningful dent in China’s dominance. The two nations complement each other’s weaknesses in rare earth mineral mining and refining. Australia brings world-class, high-grade deposits and a permissive regulatory environment, and the U.S. brings deep pockets, cutting-edge technology, and massive demand, particularly in defense. The nations share a strategic vision as members of the Australia-United-Kingdom-U.S. security partnership and have a common enemy, China, on which their partnership focuses.
