πππWhile Project Vault provides a massive USD 12 billion financial safety net for US rare earth companies, it is only an insurance policy, not an immediate production switch.
The US currently has some of the longest mine development timelines in the world.
Meanwhile Chinese giants like $China Northern Rare Earth(Group)High-Tech Co.,Ltd.(600111)$ $CHINA RAREEARTH(00769)$ & $JLMAG(06680)$ still control the immediate supply that US manufacturers need today.
China controls 90% of global processing & 70% of rare earth mining.
Rare earths are needed for the green revolution such as EVs,wind turbines, phones, lap tops & even in the defense sector. A single F35 fighter requires hundreds of kilograms of rare earths materials to maintain its advanced sensors & fight controls.
So it will be a little while before the US companies can catch with the Chinese rare earth companies who already dominate the market.
@Tiger_comments @TigerStars @TigerClub @Tiger_SG @CaptainTiger
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