Billions in US-funded rare earths flowing to Asian markets: report
Geopolitics · Mining.com ·
US-backed rare earth producers — including MP Materials, Energy Fuels and Phoenix Tailings — are selling much of their output to Japan and South Korea because domestic US magnet manufacturing has yet to catch up with Washington's supply-chain drive, according to a Financial Times report. The three companies have collectively secured billions of dollars in US government support, yet Asian buyers still dominate magnet production. The pattern underscores the gap between US funding for mining and its still-limited downstream processing capacity.