World No Longer Dependent on China for Rare Earths, Australia’s Peak Resources Enters MOU with Chinese Producer

China is no longer the stronghold of the world’s supply of rare earths, according to a latest assessment released by the Pentagon of the U.S.’ industrial base.

The report which was sent to Congress last week noted that “an increase in supply of material (has been found stable) from outside of China.” Moreover, dependence on China-produced rare earths have been reduced due to substitution of other substances since 2011…

…Jeff Green, president of J.A. Green & Co. in Washington, a body that represents miners and users of the elements, said the Pentagon report is “not a defense strategy.”

“We still have no producers of the more defense-critical heavy rare earths, and significant gaps remain in the domestic production of metal, alloy and magnets, all found in our most critical weapons, with no appreciable investment planned to solve the production problem,” he said.