China and the United States appear to be moving closer on economic policy, with potential implications for raw materials trade as well. At the same time, the latest trade data underline just how central China remains to global supply. Meanwhile, the U.S. is advancing an infrastructure project in Latin America that in some respects recalls China’s Belt and Road Initiative. The details in our roundup.
Trump-Xi Summit Points to Two-Month Delay for Rare Earth Measures
The Trump-Xi summit failed to provide explicit clarification on China’s additional export restrictions for rare earths. However, both sides have confirmed that the arrangements reached in Kuala Lumpur are to be extended. Since the suspension of the new export controls was part of that package, there are strong indications that the measures will also be delayed by another two months. Formal confirmation is still pending.
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China: August Export Data for Critical Raw Materials >
On 20 September, Chinese customs authorities released a series of foreign trade data on critical raw materials and components made from them. Export trends varied considerably across product groups, while rare earth magnet exports remained at a comparatively stable level.
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U.S. and Argentina Plan Transport Upgrades for Lithium and Copper
On the sidelines of the UN General Assembly in New York, the United States and Argentina announced a joint initiative to improve transport links for lithium and copper, as well as oil and gas. The proposed Andes-Atlantic Corridor is intended to upgrade railways, ports and supporting infrastructure such as power grids.
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Shenghe Pushes Back Against Report of Possible Takeover by State-Owned Group
Reuters reported over the weekend on talks over a possible takeover of Shenghe Resources by the state-owned China Rare Earth Group. A change of control would also affect Shenghe’s international holdings, including its roughly three percent stake in MP Materials. Shenghe, however, disputes the suggestion that such a change of ownership is planned.
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Norway Begins Planning for Fen Rare Earths Deposit
Fen, in Norway’s Telemark region, is Europe’s largest documented rare earths deposit. The project is being developed by the private company Rare Earths Norway. The Norwegian government has now begun planning: by 2028 at the latest, it aims to determine where mining and processing of these critical raw materials could take place. Potential impacts on the environment and local communities will also be assessed.
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