U.S. companies receiving government support still export rare earth metals to Asia

UK Media: US Companies Receive Government Support Yet Still Supply Rare Earth Metals to Asia

According to sources cited by the UK's Financial Times, some U.S. companies have received billions of dollars in government support to develop domestic supply chains. However, due to weak domestic demand in the United States, these companies are now selling rare earth metals to Japan and South Korea.

The article states: "Due to the lack of significant domestic demand in the U.S., rare earth elements mined by U.S. companies receiving government support are flowing toward Japan and South Korea."

The Financial Times wrote that rare earth metal products produced by MP Materials, Energy Fuels, and Phoenix Tailings are being sold to Asian firms, as magnet manufacturing scale in Asia still far exceeds the nascent magnet production currently underway in the United States.

The publication noted that these companies combined have already received billions of dollars in support from the U.S. government.

Original source: toutiao.com/article/1870163079898308/

Disclaimer: The views expressed in this article are those of the author(s) alone.