Tuesday, May 17, 2022
News

US bill to block defence contractors from using Chinese rare earth minerals

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Washington | January 16, 2022 6:49:57 AM IST
A new rare-earth bill was introduced in the US Senate on Friday, aiming to force defence contractors to end the use of rare earth minerals sourced from China by 2026.

Reacting to the US move, Chinese experts said that it is another political move of the US against the backdrop of its attempt to contain China's growth, but it will not obstruct the development of China's rare-earth sector, reported Global Times.

It is not a surprising move given Washington's series of moves aiming to set up its own rare-earth supply chain, Liu Enqiao a senior analyst at Beijing-based Anbound Consulting, told the Global Times.

The broader context behind the move is the deteriorating US-China relations. Moreover, the US rely heavily on China's supply of rare earth, a crucial raw material for high-tech products including weapons.

China holds 44 million tons of rare earth reserves, accounting for 36.7 per cent of the global stockpile. In 2020, China produced 140,000 tons of rare earth, accounting for nearly 60 per cent of global output, reported Global Times. (ANI)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE WORLD NEWS
China compelled to review 'no limits' fr...
Fevered persons in N Korea total 1.48 ml...
US hopes to convince India to reconsider...
Pakistan: MQM-P fully prepared for fresh...
Motorola phones back in Korea after 9 ye...
S. Korean companies expected to announce...
More...
 
INDIA WORLD ASIA
'Centre committed to spread teachings of...
Trying to create communal trouble: K'tak...
Fault lines widening amongst Indian Musl...
Rajasthan's Ramgarh Vishdhari Sanctuary ...
Telangana Cong to urge Rahul Gandhi to l...
Heat wave's intensity, spatial distribut...
More...    
 
 Top Stories
Indian American student 'choked for... 
Lead the change with a master's deg... 
Big CIO show to convene India's top... 
Ajith Rajapakse elected new Deputy ... 
Time to save big with the launch of... 
IPL 2022: MI win toss, to bowl firs... 
Qurat Ul Ain's enigmatic personalit... 
Racism in South Africa: White stude...