"Scott Bessent, the US treasury secretary, returned from South Carolina last week brandishing a small piece of metal, proclaiming that it was the first rare-earth magnet made in the US in a quarter of a century. It was, he indicated to Fox Business, proof that the US is ending China's chokehold on our supply chain. Thanks to the South Carolina company eVAC's new rare-earth mineral processing center, Bessent added: We're finally becoming independent again."
"There's no easy fix for the US to reset its dependence on Chinese production of minerals critical to national security, semiconductor production, and the transfer of energy production from fossil fuels to wind and solar. The US imported 80% of the rare earths it used in 2024, according to the US Geological Survey. For some rare-earth minerals such as dysprosium, used in chip production, and samarium, essential to military applications, Chinese refinement dominance rises to 99%."
A South Carolina processing center produced the first rare-earth magnet made in the US in 25 years, symbolizing efforts to reduce Chinese control of critical minerals. The Trump administration prioritizes breaking China’s processing dominance through tariffs, trade deals, and domestic investment. China maintains roughly 70% of global mining and over 90% of processing capacity, giving it a substantial head start. The US imported 80% of its rare earths in 2024, and Chinese refinement reaches 99% for certain minerals like dysprosium and samarium. These minerals are essential for semiconductors, EV motors, wind turbines, and military systems, and dependence is difficult to reverse quickly.
Read at www.theguardian.com
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