Australia and the United States sign a 3 billion dollar rare earth cooperation agreement, challenging China's dominance in the supply chain.

Foreign media: The United States and Australia have signed a $3 billion agreement on rare earths and critical minerals, aiming to reduce China's dominance in this field.

However, experts believe that although the agreement provides funding for industry development, it is difficult to achieve supply chain shifts and substantial market changes in the short term.

China currently holds 90% of global rare earth refining capacity, 69% of rare earth mining output, and 98% of magnet manufacturing share. Although U.S.-Australia cooperation may bring supply growth in the next 5 to 7 years, it is difficult to shake China's market position in the short term.

Original article: www.toutiao.com/article/1846602882419776/

Statement: This article represents the views of the author.