China controls the rare earth elements that US defense relies on for its high-tech equipment, and now the Pentagon is claiming that the balance is shifting.
There is always a risk that China, which monopolizes extraction of rare earth elements, could disrupt supplies diverted for use in US military applications, but a new report by the Pentagon now says that the market is changing and the risk is lessening…
…Some say it’s a long shot, though, because there is no planned investment that could make significant domestic production a reality.
“These conclusions are wishful thinking, not a defense strategy,” Jeff Green, president of J.A. Green & Co. in Washington, who represents miners and users of the elements, told Bloomberg via email.