The U.S. is alarmed: To counter China's monopoly over critical minerals, America joins forces with allies to roll out new measures.

“These efforts will reduce our dependence on China,” stated the Harris campaign team in its announcement. However, China currently dominates the global supply chain for critical minerals. Through large-scale subsidies, price manipulation, and export restrictions, China has firmly secured control over the global market. Recognizing the economic and security risks posed by their heavy reliance on China for critical minerals, the United States and its allies established the Minerals Security Partnership (MSP) in 2022 to counter China’s monopolistic position in the global critical minerals market. Chinese state media, citing commentary from metals industry analysts, dubbed the MSP the “NATO for metals.” China’s Monopoly over Global Critical Minerals China has lowered the costs of mineral extraction and processing through substantial government subsidies and relatively lax environmental regulations. This enables Chinese enterprises to dump critical minerals on international markets at low prices, squeezing out producers in other countries. China holds the world’s largest reserves of rare earth minerals and—through aggressive domestic resource development—has rapidly expanded its mining capacity for rare earths, lithium, cobalt, and other critical minerals. According to the International Energy Agency, China controls approximately 60% of global rare earth mining output and nearly 90% of global processing and refining capacity. Meanwhile, China accounts for over half of global processing capacity for nickel, cobalt, and lithium. China has heavily invested in critical mineral projects across resource-rich regions such as Africa and South America—for example, cobalt projects in the Democratic Republic of Congo; investments in lithium resources in Zimbabwe and South America’s “Lithium Triangle”; and nickel and bauxite projects in Brazil. China imposes export restrictions on certain critical minerals—including rare earths, gallium, germanium, antimony, and graphite—leveraging these strategic resources as tools in economic and geopolitical bargaining. “China is adopting the tactics of a monopolist to squeeze out competitors,” U.S. Deputy Secretary of State Jose Fernandez told the Financial Times. He accused Beijing of maintaining control over the global critical minerals supply through “overproduction and predatory pricing.” “We recognize that no single country can solve this problem alone—we are stronger when we unite.” The Minerals Security Partnership Counters China’s Monopoly In June 2022, the MSP was formally launched at the world’s largest mining conference in Toronto, Canada, under U.S. leadership. The MSP’s 15 members include: the United States, the United Kingdom, Germany, France, Italy, Canada, Australia, Norway, Sweden, Finland, Estonia, Japan, South Korea, India, and the European Union. The MSP aims to reduce dependence on China-dominated critical mineral supply chains through global cooperation, building a diversified and sustainable supply system. This collaboration involves not only intergovernmental coordination but also participation from financial institutions and private mining companies—including BlackRock, Goldman Sachs, Citigroup, Rio Tinto, and Anglo American. Representative MSP-supported projects currently underway include: • Kabanga Nickel Project in Tanzania: Designed to reduce global dependence on nickel supplies from China and Indonesia. • Electra Battery Materials’ project in Canada: In August this year, the company received a $20 million U.S. government grant. In a statement, Electra said the funding will support construction of a cobalt sulfate refinery in Ontario, Canada—the first and only lithium-ion battery materials smelter in North America.

Critical Minerals: Magnesium as a Critical Mineral

Meanwhile, trade measures, export controls, government funding programs, and industrial incentives are increasingly shaping the future structure of the magnesium industry. For magnesium producers, recyclers, die-casters, and downstream manufacturers, the transition—from a lightweight engineering material to a strategically vital industrial material—may present significant opportunities. As governments continue integrating critical mineral policies with industrial development goals, magnesium’s role in the future global manufacturing system is likely to expand further. Source: Light Metal Age – Magnesium as a Critical Mineral ✍️ Author: J.P. Weiler (Meridian Lightweight Technologies, Inc.) First published: Light Metal Age, June 2026 Rio Tinto officially becomes North America’s first high-purity scandium oxide supplier, securing U.S. critical mineral supply. Winner of the 9th Altair Enlighten Award for Lightweighting (2021): For the first time, a Chinese automaker received the award. Domestically developed large passenger aircraft open up market space for aviation materials. The metal paradox under carbon neutrality. [Video] Alumobility develops next-generation lightweight door systems; the Uni-alloy 6xxx door solution achieves a 45% weight reduction. References 1. “Critical Raw Materials,” European Commission. 2. “Critical Materials and Materials Program,” U.S. Department of Energy. 3. “Canada’s Critical Minerals Strategy,” Government of Canada, 2022. 4. “Critical Minerals Strategy 2023–2030,” Government of Australia. 5. “Critical Raw Materials Act (CRMA),” European Commission. 6. “Harmonized Tariff Schedule—2026 HTS Revision 9,” U.S. International Trade Commission (USITC). 7. Latrobe Magnesium, http://www.latrobemagnesium.com. 8. “China Imposes Export Controls on Certain Magnesium Products Effective December 1,” Asian Metal, 2024, Ministry of Commerce of the People’s Republic of China. 9. “China Suspends Rare Earth Export Controls and Implications for Supply Chains,” Clark Hill, November 24, 2025. 10. “DoD Awards $192.5 Million to Establish Domestic Manufacturing Capacity for Critical Defense Chemicals,” U.S. Department of Defense, February 1, 2024. 11. “Funding Opportunity Announcement: Critical Materials Innovation, Efficiency, and Substitution,” U.S. Department of Energy, May 19, 2026. 12. “Tetra Technologies, Inc. and Magrathea Metals, Inc. Advance Joint Venture Plan to Produce Magnesium in Arkansas,” Tetra Technologies, December 2, 2025. 13. Madison, David, “Cheyenne Company Plans to Build North America’s Largest Magnesium Production Facility,” Cowboy State Daily, June 1, 2025. 14. “Critical Minerals Infrastructure Fund,” Government of Canada. 15. Canada Growth Fund, https://canadagrowthfund.ca. 16. “Minago to Become Canada’s First Magnesium Producer,” Minago Critical Minerals Project, January 12, 2026. 17. “Australia-Japan Joint Statement on Enhancing Critical Minerals Cooperation,” Government of Australia, May 4, 2026.

UN to Help Six Nations Get More Value From Critical Minerals

Sep 23, 2026

The United Nations selected six African and Asian nations to receive support for processing critical minerals domestically, aiming to boost local value chains amid surging global demand for energy transition metals like lithium and copper.

bloomberg

2026-09-23

UN to Help Six Nations Get More Value From Critical Minerals

UN to Help Six Nations Get More Value From Critical Minerals

FAQ