VML General Comments - Chat, page-8251

China mines about 60 per cent of the world’s rare earths but processes almost 90 per cent. In heavy rare earths, it is estimated that China carries out 99.9 per cent of separation into high-value materials.Lynas sells heavy rare earths concentrate into China while MP Materials ships most of the rare earths mined at Mountain Pass to China for processing by one of its biggest shareholders, Shenghe Resources.A Republican-led committee is pushing Congress for tax breaks in rare earths processing and in magnet making.“Congress should incentivise the production of rare earth element magnets, which are the principal end-use for rare earth elements and used in electric vehicles, wind turbines, wireless technology, and countless other products,” the committee said in a December report.

source -AFR