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The US has a single rare earths mine. Chinese export limits are energizing a push for more

Associated Press Finance

·

18 Apr

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Former Nestle Chairman and CEO Peter Brabeck-Letmathe was unanimously selected as interim chairman by the forum's board at a special meeting on Sunday, the statement said. 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Chinese export limits are energizing a push for more","url":"https://stock-news.laohu8.com/highlight/detail?id=2528898084","media":"Associated Press Finance","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2528898084?lang=en_us&edition=fundamental","pubTime":"2025-04-18 12:22","pubTimestamp":1744950154,"startTime":"0","endTime":"0","summary":"OMAHA, Neb.  — America’s only rare earths mine heard from anxious companies soon after China responded to President Donald Trump’s tariffs this month by limiting exports of those minerals used for military applications and in many high-tech devices.“Based on the number of phone calls we’re receiving, the effects have been immediate,” said Matt Sloustcher, a spokesperson for MP Materials, the company that runs the Mountain Pass mine in California's Mojave Desert.Rare earth elements are important ingredients in electric vehicles, powerful magnets, advanced fighter jets, submarines, smartphones, television screens and many other products. Despite their name, the 17 elements aren't actually rare, but it's hard to find them in a high enough concentration to make a mine worth the investment.  Tariffs will impact ore supply and costs. China has tremendous power over the rare earths market. 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