Western miners seek premium pricing for rare earth metals to break China grip | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Western miners seek premium pricing for rare earth metals to break China grip euractiv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from euractiv.com Daily Mail and Mail on Sunday newspapers.
A handful of Canadian, German and Australian critical mineral explorers plan to command premium prices for key metals used in electric vehicles, promising quality and consistency in exchange for shifting reliance away from China, the dominant producer and price-setter. China controls 95% of the production and supply of rare earth metals, integral to manufacturing magnets for electric vehicles (EVs) and wind farms, and this monopoly has allowed China to dictate prices and stir turmoil among end users through export controls. Now, mining companies such as TSX-listed Aclara Resources and Australia's Ionic Rare Earths are discussing plans that may loosen China's grip on the critical minerals market, moving towards market-determined prices, company officials told Reuters.