In July, the United States finalized a groundbreaking deal with MP Materials, a rare earth company. More recently, it greenlit what will be the nation’s only domestic source of antimony and signaled interest in taking an equity stake in Lithium Americas. It appears the U.S. recognizes that countering China’s dominance in critical mineral supply chains will require a strategic approach, one that includes targeted financing and reducing burdensome federal regulations.

Currently, China is the undisputed global leader in critical minerals, controlling 60% of rare earth element mining and 90% of global processing. The United States remains import-reliant on 10 or more of the 50 minerals the U.S. Geological Survey classifies as critical and majority-dependent on imports for nearly 30.

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