China tightens grip on rare earths in race for green energy transition

China explicitly declared that rare-earth resources belonged to the state, its latest move to consolidate control over minerals needed for the green energy transition.

The announcement came after Beijing this year placed restrictions on the exports of gallium and graphite, which are key to the manufacture of semiconductors and electric vehicles, respectively.

China is locked in a race with Western powers to secure access to such resources, and has a particularly strong hold over rare earths, accounting for about 60% of their production, and 90% of their refining.

With tensions rising between the two sides, the US and European Union have separately sought to diversify their procurement of rare earths, as well as other minerals.