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The world’s rarest US oil produced by Washington-backed companies is flowing to Japan and South Korea, as America’s demands have not been met despite the Trump administration’s push to create international access.
The world’s needs produced by MP Materials, Energy Fuels and Phoenix Tailings – which together have won billions of dollars in US government aid – are being sold to companies in Asia, where the growth of magnetic production is still greater than the production of magnets in the US.
China’s blockade of the world’s natural resources and essential minerals has been a national security concern for the US and other Western countries, ever since Beijing first imposed restrictions on them. The metals are critical to 21st century technology and are used to make everything from instrument controls to electric car batteries.
