Overview
- During visits to producers and a research institute in Ganzhou, the premier vowed to consolidate China's advantages in rare earths and to expand their use in advanced manufacturing and green energy.
- The U.S. initiative would create a federally supported stockpile of critical minerals, with a reported $10 billion Export-Import Bank loan, $1.67 billion in private seed funding, and a public‑private Vault Company to oversee it.
- Washington has also convened more than 50 countries to build a metallic alliance to diversify supply chains and reduce reliance on Chinese processing.
- China currently produces about 70% of rare earths and nearly 90% of processing, after tightening export controls last year that disrupted supplies to the U.S., EU and India.
- Industry voices warn the U.S. is highly exposed, with the IEA estimating at least 93% import dependence for rare earths and graphite, while Chinese commentators cast Project Vault as a short-term buffer.