India’s decision to cordon off its rare earth output set the tone for a nervous week in critical mineral markets. New Delhi ordered Indian Rare Earths Limited (unlisted) to halt neodymium exports to Japan, a dramatic break with a 13-year supply pact and a reminder that Chinese licensing controls have given every producer political leverage. Although India mined only 2,900 tonnes of neodymium oxide last year, officials now pledge to reserve enough for a future magnet industry and to sweeten domestic processing with incentives.
Beijing answered from the shadows. Satellite imagery and local reports show the United Wa State Army—long backed by China—ring-fencing freshly opened dysprosium and terbium-rich deposits in Myanmar’s Shan State. Trucks already carry concentrate across the border, offsetting supply lost to fighting farther north and tightening China’s grip on the heavy rare earths that temper heat in electric-vehicle (EV) motors and precision-guided munitions.
Jack Lifton, co-chair of the Critical Minerals Institute (CMI), captured the West’s predicament bluntly: “Our arsenal of democracy rests on supply chains we neither own nor control.” His commentary, “Rare Earths, Magnets, and Missiles,” noted that the sole U.S-backed magnet plant now under construction will yield just 2,000 tonnes a year—barely enough for a few destroyers and F-35 squadrons.
Automakers felt the shortfall first. Ford Motor Company (NYSE: F) says a rare earth squeeze forced it to idle a plant last month. Suppliers warn that assembly lines at General Motors Company (NYSE: GM), Toyota Motor Corporation (NYSE: TM) (TYO: 7203) and Bayerische Motoren Werke AG (ETR: BMW) could stop as early as July if Chinese export licenses do not accelerate.
President Donald Trump claimed relief is coming: a provisional deal under which Beijing would resume steady magnet and oxide exports while Washington re-opens the door to Chinese students. The accord sits awkwardly alongside Trump’s plan to impose a combined 55% tariff on Chinese goods.
Yet another Trump initiative unsettled miners. A House tax-and-spend package backed by the White House would scrap the Section 45X production credit that underwrites domestic nickel, lithium, and rare earth projects. Developers warn the move hands China a crucial cost edge just as U.S. plants seek financing.
The administration simultaneously signed three resolutions voiding California’s 2035 gasoline-vehicle ban and its zero-emission truck rule, undercutting a market signal that had drawn battery-metal investment westward. California and a coalition of states have already sued.
Beyond rare earths, the World Bank lifted its 2013 ban on nuclear-project funding, pledging to co-finance reactor life extensions, grid upgrades and small modular reactors—a tailwind for uranium and zirconium suppliers. Canada, meanwhile, is weighing a Canadian Climate Institute report that warns it must mobilize at least C$30 billion by 2040 to secure domestic supplies of six critical minerals—including lithium and copper—or risk surrendering manufacturing growth to trading partners.
Copper mirrored the scramble. Anticipating a possible 10% U.S. Section 232 tariff, traders redirected more than 200,000 tonnes of refined copper to American ports in April, the highest inflow in a decade. London Metal Exchange stocks have sunk to two-year lows, pushing time-spreads into steep backwardation.
Investors rotated within the platinum group metals complex. Platinum has climbed 41% this year to $1,272 an ounce, buoyed by jewelry sales and hydrogen-economy wagers, while palladium’s 18% gain reflects its narrowing role in gasoline catalysts as EV adoption quickens.
Lawmakers on Capitol Hill turned the spotlight on tungsten. Almonty Industries Inc. (TSX: AII | ASX: AII | OTCQX: ALMTF) earned formal praise from the House Select Committee on Strategic Competition for its Sangdong Mine in South Korea, expected to become the largest non-Chinese source of the metal and, once redomiciled, the only U.S. producer.
The Critical Minerals Institute (CMI) closed the week by highlighting the “Core Four” magnet metals—neodymium, praseodymium, terbium and dysprosium—underscoring the strategic value of U.S. projects such as MP Materials Corp. (NYSE: MP) at Mountain Pass and American Rare Earths Limited (ASX: ARR) (OTCQX: ARRNF | ADR: AMRRY) at Halleck Creek, both racing to chip away at China’s 98% grip on processing.
The Technology Metals Report (TMR) is a weekly compilation of the top stories selected by the Critical Minerals Institute (CMI) Board of Directors. Now, here are the top stories we reviewed in today’s TMR for the above update, for your review. For access to this board, click here, or to become a Critical Minerals Institute (CMI) Member and have the TMR emailed to you weekly, click here.
India moves to conserve rare earths, seeks halt to exports to Japan (June 16, 2025, Source) – India has directed Indian Rare Earths Limited (IREL) to suspend rare earth exports to Japan under a longstanding agreement, prioritizing domestic needs amid Chinese export curbs. Union Minister Piyush Goyal emphasized conserving neodymium, critical for EV motors, for local use. In 2024, IREL exported over 1,000 tonnes to Japan, a third of its 2,900-tonne output. Despite having 6.9 million tonnes in reserves, India lacks domestic magnet production, importing over 53,000 tonnes in FY25. Plans include producing 450 tonnes of neodymium in FY26 and incentivizing domestic processing and manufacturing facilities across strategic sectors.
Rare Earths, Magnets, and Missiles: Unmasking the West’s Military Metals Gap (June 13, 2025, Source) – Western dependence on foreign supply chains for rare earth permanent magnets—critical for defense systems—has exposed a major strategic gap. While governments emphasize national security, private firms often pursue short-term profits, overstating defense demand to justify funding. A U.S.-backed facility in South Carolina will produce 2,000 tonnes annually, with 1,200 tonnes allocated to military use—far below speculative figures. China dominates this sector, producing and consuming the vast majority of global supply. Efforts to revive domestic production face challenges including lack of scale, expertise, and capital, highlighting the gap between political ambitions and industrial capability.
Global imbalances grow as ever more copper flows to the US (June 13, 2025, Source) – A global rush to ship copper to the U.S. ahead of possible Section 232 tariffs is straining supplies elsewhere. U.S. imports of refined copper soared to over 200,000 tons in April—the highest in a decade—largely sourced from Chile, whose brands dominate CME-approved lists. This shift has drained London Metal Exchange (LME) inventories to near two-year lows, with over half of stocks canceled for physical delivery. Time-spreads have tightened into steep backwardation. Meanwhile, even countries like China and Germany have redirected copper to the U.S., leaving other global markets facing shortages and distorted trade flows.
Ford CEO says rare earths shortage forced it to shut factory (June 13, 2025, Source) – Ford CEO Jim Farley revealed that a rare earth minerals shortage forced the automaker to temporarily shut down a plant last month. These 17 metallic elements, essential for components like windshield wipers and seat belts, are primarily sourced from China, which supplies about 90% of the U.S. market. Recent Chinese export controls requiring licenses have slowed supply, disrupting production. Ford CFO Sherry House noted the new process is inconsistent and time-consuming. Following June 11 trade talks in London, China agreed to resume regular exports, though Ford is still awaiting approvals from China’s Ministry of Commerce for additional shipments.
World Bank Lifts Nuclear Energy Project Funding Ban To Address Surging Global Power Demand: Report (June 12, 2025, Source) – The World Bank has lifted its ban on funding nuclear energy projects, ending a policy in place since 2013. President Ajay Banga announced the shift in an internal email, citing rising global electricity demand and the need for low-emission technologies. The bank will collaborate with the IAEA to support the extension of existing nuclear reactors, grid upgrades, and future deployment of small modular reactors. This move aligns with growing global support for nuclear energy, including recent policy reversals in Germany and advocacy by the U.S. The decision reflects a broader energy strategy amid surging power needs through 2035.
Trump’s tax-cut bill could hold back US critical minerals projects (June 12, 2025, Source) – A new U.S. tax and spending bill backed by President Donald Trump could hinder domestic critical minerals projects by eliminating the 45X tax credit that currently supports production of materials like nickel and rare earths. Originally introduced under the 2022 Inflation Reduction Act, the credit reduces corporate taxes for domestic extraction and processing. Miners argue its removal would make it harder to compete with China, which dominates global supply. The House-passed bill also cuts funding for the Department of Energy’s loan office but allocates $3 billion for strategic mineral programs. The Senate is still debating the bill.
China-backed militia secures control of new rare earth mines in Myanmar (June 12, 2025, Source) – A Chinese-backed militia, the United Wa State Army (UWSA), is securing newly opened rare earth mines in Myanmar’s Shan state, where Chinese miners are extracting dysprosium and terbium—critical minerals used in EVs and wind turbines. Satellite imagery confirms significant mining infrastructure has developed in the region since early 2023. These mines help offset disrupted supply from northern Myanmar, where conflict has suspended operations. The UWSA, long linked with China, controls the sites and limits access. Analysts say Chinese firms are operating the mines, leveraging low costs and Chinese technology to maintain Beijing’s rare earth dominance.
$30B in new investments needed to meet Canada’s critical mineral demand: report (June 12, 2025, Source) – A new report from the Canadian Climate Institute warns that Canada needs at least $30 billion in capital investments by 2040 to meet domestic demand for critical minerals essential to the green energy transition. Domestic demand for six key minerals—such as lithium and copper—could reach $16 billion, driven largely by EV manufacturing. The report cautions against cutting environmental protections or bypassing Indigenous consultation, as such shortcuts often lead to delays. It urges government support through equity or risk-sharing but stresses the need for strong environmental and Indigenous engagement standards to avoid project setbacks.
Trump to sign resolutions nixing California’s EV rules, White House official says (June 12, 2025, Source) – U.S. President Donald Trump will sign three resolutions blocking California’s electric vehicle (EV) and diesel engine regulations, according to a White House official. The resolutions repeal an EPA waiver that allowed California to mandate 80% EV sales by 2035 and nullify California’s rules for zero-emission heavy-duty trucks and low-nitrogen oxide standards. These actions, supported by automakers like GM and Toyota, follow lobbying efforts opposing the mandates. California Governor Gavin Newsom has pledged legal challenges, estimating $45 billion in potential health care costs. The moves are part of broader federal efforts targeting EV incentives and emissions regulations.
The Core Four: Rare Earths Fueling Global Markets and Military Might (June 11, 2025, Source) – Rare earth elements (REEs) include 17 metals—15 lanthanides plus scandium (Sc) and yttrium (Y)—and play a vital role in both global markets and military applications. Among them, four stand out: neodymium (Nd), praseodymium (Pr), terbium (Tb), and dysprosium (Dy), known as the “Core Four.” These are crucial for permanent magnets found in smartphones, EVs, wind turbines, and defense technologies. Light REEs (Nd, Pr) enhance magnet strength and efficiency, while heavy REEs (Tb, Dy) manage heat. With China controlling 98% of the REE supply chain, U.S. projects like MP Materials Corp. (NYSE: MP) and American Rare Earths Limited (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) are gaining strategic importance.
Trump says China will supply rare earths, US to allow students (June 11, 2025, Source) – Former U.S. President Donald Trump announced a trade deal with China under which Beijing will supply rare earth minerals and magnets, while the U.S. will allow Chinese students to study at American universities. Trump stated the U.S. will impose a combined 55% tariff on Chinese goods, comprising a 10% reciprocal tariff, 20% for fentanyl-related issues, and 25% from prior tariffs. China will levy a 10% tariff on U.S. imports. The agreement, pending final approval by Trump and President Xi, follows recent negotiations in London aimed at reviving the stalled Geneva truce on trade and export restrictions.
Platinum surges, palladium lags on narrow demand profile (June 11, 2025, Source) – Platinum prices have surged 41% in 2025, reaching $1,272.45/oz—its highest since February 2021—driven by supply concerns, increased jewelry demand, and renewed investor interest after London Platinum Week. In contrast, palladium rose 18% to $1,078.62/oz, its highest since November 2024, but lags behind due to its limited use in gasoline vehicle catalytic converters. Analysts highlight platinum’s broader applications, including jewelry, industrial use, and hydrogen technologies, which provide resilience against declining auto sector demand. Palladium faces greater pressure from rising EV adoption, especially in China, where EV sales rose 32% year-over-year to 0.9 million units in April.
China Has Learned to Weaponize Rare Earths — and We Handed It the Ammunition (June 10, 2025, Source) – China has effectively weaponized its dominance in rare earth elements, leveraging its industrial capacity rather than mere technological capability. While the West knows how to produce rare earth materials and magnets, it lacks cost-effective, large-scale infrastructure. China’s six major producers control global magnet supply, while North America and Europe have none. Years of outsourcing hollowed out Western capacity, and rebuilding it requires long-term investment, which clashes with short-term market expectations. Western efforts remain fragmented and misaligned, especially given vague demand data. Meanwhile, China’s strategic use of export licenses continues reshaping global supply chains with speed and precision.
Rare earths shortage could cause pandemic-era disruptions, experts say (June 10, 2025, Source) – Experts warn of potential widespread disruptions due to a looming rare earths shortage, likened to a “chip shortage on steroids.” China, which controls 92% of rare earths processing, has slowed exports by introducing new licensing requirements in April, straining U.S. supplies. American manufacturers reportedly have just 2–3 months of inventory left. Automakers, including Ford, are already experiencing production issues. While U.S.-China trade talks in London are ongoing, only temporary export licenses have been granted. Efforts to develop alternatives or domestic processing are underway but may not arrive in time to prevent manufacturing disruptions across industries.
Almonty Receives U.S. Congressional Recognition for Strategic Role in U.S. Critical Minerals Supply Chain (June 9, 2025, Source) – Almonty Industries Inc. (TSX: AII | ASX: AII | OTCQX: ALMTF) has received formal recognition from the U.S. House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party for its role in strengthening the U.S. critical minerals supply chain. The Committee highlighted the importance of Almonty’s Sangdong Mine in South Korea, expected to become the largest tungsten producer outside China, and noted the company’s planned redomiciling to the U.S. Almonty could become the only U.S.-based commercial-scale tungsten producer. The Committee also expressed interest in collaborating on defense supply chains and potential contributions to the National Defense Stockpile.
Auto companies ‘in full panic’ over rare-earths bottleneck (June 9, 2025, Source) – Auto manufacturers are facing an urgent crisis over rare-earth magnet shortages, with some suppliers warning production could halt by mid-July due to China’s export controls. Companies are scrambling to secure alternative sources, as China dominates up to 90% of rare-earth magnet production. Automakers such as GM and BMW are working on low-to-zero rare-earth alternatives, but scaling is years away. Emergency talks between U.S. and Chinese officials are underway. European suppliers have begun shutting plants, while others like Niron and Warwick Acoustics are developing rare-earth-free technologies, though mainstream adoption remains distant.
InvestorNews.com Media Highlights
- June 13, 2025 – Riches Beneath: The Global Implication of the U.S.-Ukraine Critical Minerals Deal https://bit.ly/45RdkiM
- June 13, 2025 – Rare Earths, Magnets, and Missiles: Unmasking the West’s Military Metals Gap https://bit.ly/4kMBIHa
- June 11, 2025 – The Core Four: Rare Earths Fueling Global Markets and Military Might https://bit.ly/4e1vf8r
- June 10, 2025 – China Has Learned to Weaponize Rare Earths — and We Handed It the Ammunition https://bit.ly/446KGZC
- June 06, 2025 – Fish don’t know they’re swimming in water https://bit.ly/3FKOxCi
- June 05, 2025 – Mining Noir Unveiled: Ecclestone’s May Review Dissects Rio-Glencore “Elephant Dance,” Tin Shock Deals, and Gallium Leaks https://bit.ly/43OCfRw
- June 4, 2025 – Mineral Mania: Canada’s Critical Mineral Opportunity https://bit.ly/4kTEwBW
- June 4, 2025 – Anthony Milewski on the double-edged demand of Vanadium https://bit.ly/4kLN0e5
- June 3, 2025 – “The Tungsten Five”: How a Once-Overlooked Metal Redrew the Critical Minerals Playbook https://bit.ly/3FLjkii
InvestorNews.com Video Highlights
- June 10, 2025 – CVMR’s Michael Hargett: Rewiring U.S. Mineral Security Through Modular Nickel Refining https://youtu.be/gdn6f213YM4
- June 10, 2025 – The Resouro Tiros Play: Zero-Cost Rare Earths, High-Margin Titanium in Brazil https://youtu.be/cRBo4uR2aiA
- June 06, 2025 – Antimony Resources Targets North America’s First Stand-Alone Antimony Hub in New Brunswick https://youtu.be/fSkvHNmf8fU
InvestorNews.com Member News
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- June 12, 2025 – Corrected: Coniagas Announces MCTO Status Update https://bit.ly/3HEPUDe
- June 12, 2025 – Appia Plans to Resume Exploration at Alces Lake to Advance High-Priority REE Drill Targets https://bit.ly/44d1jTu
- June 11, 2025 – Nord Announces MCTO Status Update https://bit.ly/44dnUPR
- June 11, 2025 – Coniagas Announces MCTO Status Update https://bit.ly/4dW3vSE
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- June 10, 2025 – Western Uranium & Vanadium Announces CAD $5,000,000 Bought Deal Financing https://bit.ly/44bgrRm
- June 10, 2025 – Ucore Announces Books Closed on C$15.5 Million LIFE Offering and Full Exercise of Agents’ Option https://bit.ly/45Oj4K5
- June 9, 2025 – Ucore Announces Upsize to the Brokered LIFE Offering for Gross Proceeds of up to C$14.0 Million https://bit.ly/4mYKCCW
- June 9, 2025 – Power Metallic Acquires 167KM² from Li-FT Power, Expanding Nisk – Lion Polymetallic Project Area by over 300% https://bit.ly/43WjQSN
- June 6, 2025 – Growing momentum in metal and alloy sales https://bit.ly/3FUoI2G
- June 6, 2025 – Neo Performance Materials Announces Normal Course Issuer Bid and Automatic Purchase Plan for its Common Shares, and Commences Trading on the OTCQX Market https://bit.ly/45IgHbG
- June 5, 2025 – Antimony Resources Corp. (ATMY) Closes Final $318,100 Tranche of Financing https://bit.ly/43sor06
- June 5, 2025 – Ucore Closes Books on Over-Subscribed Brokered LIFE Offering https://bit.ly/3HrHtew
- June 5, 2025 – ASM refinances Korean Development Bank corporate debt facility https://bit.ly/43uv41X
- June 4, 2025 – Power Metallic intercepts 12.54 meters of 10.99% CuEq at the Lion Zone and 11.25m of 1.22% CuEq at Nisk East – First Lion Like Mineralization Intercepted near the Nisk Zone https://bit.ly/45dZRBv
- June 4, 2025 – Voyageur Enters Revenue Stage with First Commercial Sale of Barium Contrast Agents https://bit.ly/3Tcfemo
- June 3, 2025 – Ucore Announces Brokered LIFE Offering of Units for up to $10 Million https://bit.ly/43rJgZv
- June 3, 2025 – Nord Precious Metals Announces FT Unit Private Placement https://bit.ly/4kr991K
- June 3, 2025 – Energy Fuels Achieves Another Record Month of U.S. Uranium Production https://bit.ly/3FL7y7A
- June 2, 2025 – Ucore Executes US$18.4M Award with U.S. DoD for Rare Earth Processing https://bit.ly/3ZbdMUY
- June 2, 2025 – Resouro Strategic Metals Inc. to Attend THE Mining Investment Event in Quebec City https://bit.ly/3T3jLYp
- June 2, 2025 – Nord Receives Advanced Application and Procedure for Recovery Permit https://bit.ly/4kF3h4u
- June 2, 2025 – Appia Receives 5-Year Exploration Permit for the Otherside Uranium Property in the Athabasca Basin, Saskatchewan https://bit.ly/4dFiqk2
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