Foreign media: U.S. Treasury Secretary Bensons will urge the Group of Seven and other countries to accelerate actions to reduce reliance on China's rare earths on January 11.
This meeting will be attended by finance ministers or cabinet ministers from G7, the European Union, Australia, India, South Korea, and Mexico. China holds a dominant position in the supply chain of key minerals, refining 47% to 87% of copper, lithium, cobalt, graphite, and rare earths, which are used in defense technologies, semiconductors, renewable energy components, batteries, and refining processes.
The United States has signed an agreement with Australia aimed at addressing China's dominance through an $8.5 billion project pipeline.
Original article: toutiao.com/article/1854035007564812/
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