🔴With its tight grip on #الصين controlling the global supply of key metals, the West is working to reduce its dependence on Chinese rare metals. This includes finding alternative sources for rare earth metals, developing the necessary technologies to minimize reliance on them, and recovering existing stocks by recycling products that have reached the end of their life cycle.
📌Alex Partners consultancy stated: "You cannot manufacture a modern car without rare metals," pointing out that Chinese companies have come to dominate the metals supply chain.
📌In September 2024, the U.S. Department of Defense invested $4.2 million in a company called 'Rare Earth Element Salts,' a startup aimed at extracting oxides from locally recycled products, such as fluorescent lamps. The Japanese company Toyota also invested in technologies to reduce the use of rare earth elements.
📌According to the U.S. Geological Survey, China controlled 69% of rare metal mining production in 2024 and nearly half of the world's reserves.
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