In an exclusive, the Financial Times covered SAFE and the State Department’s announcement at the Mineral Security Partnership Finance Meeting in New York City during the United Nations General Assembly. From the article:
“China has retaliated by restricting exports of some minerals, including antimony, an obscure metal used in armour-piercing ammunition and night vision goggles. Chinese companies control 90 per cent of the world’s processing capacity for rare earths and more than half the processing capacity for cobalt, nickel and lithium minerals that are used to make batteries for EVs.
‘They were the only game in town — we’re changing that,’ said Abigail Hunter, executive director at the SAFE Center for Critical Minerals Strategy, an NGO that has partnered with the US state department to promote investment in critical minerals supply chain. Hunter said the aim was to give ‘lower income countries in particular the alternative to China when it comes to financing.'”
Read the full story: “Western nations join forces to break China’s grip on critical minerals”
Watch the announcement.
