China Announces a Ban on Rare Minerals to the U.S.
The move escalates supply chain warfare and comes a day after the Biden administration expanded curbs on the sale of advanced American technology to China.
Hasnain says:
Supply chain security takes a new turn here. I don’t see this ending well for anyone. Especially not the computer industry
“The Chinese ban on superhard mineral exports could provoke particular unhappiness in America’s national security community. That ban appeared to be aimed at Chinese exports of tungsten, which is vital for making armor-piercing bullets and shells, said Oliver Friesen, the chief executive of Guardian Metal Resources, a London company that is planning to mine tungsten in Nevada.
It will take close to three years to establish a new tungsten mine in Nevada, he said, adding: “We’re moving things along quite quickly.””
Posted on 2024-12-04T08:08:35+0000