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China is tightening its grip on rare earth exports
China implemented strict new rules for rare earth mining and processing, effective from October 1, 2024.
The government now has tighter control over how much is produced, wants everything tracked, and says all rare earths belong to the state—no more unauthorized mining.
Why it matters
China produces about 60% of the world's rare earth raw materials—the stuff inside your phones, EVs, and even defense tech.
Now, companies will need special licenses to export seven key elements (like dysprosium and terbium), which could shake up tech supply chains in the US and Europe.
With global demand rising and trade tensions simmering, this move is a big play to keep China on top of these critical resources.