Can the world break China's rare earth grip?

In recent weeks, the US has signed multiple deals to source rare earth minerals. India, too, has been active and so have many other nations. Mint explores the chances the world has to end China's absolute dominance in this space.

- BY N. MADHAVAN

1 Is the US hunting for rare earth deals?

Yes. Last week, the US signed an agreement with Australia, which is keen to become a major supplier of rare earth minerals in the world. The deal seeks to end China's near monopoly in the global critical minerals market. After signing the agreement, US President Donald Trump claimed in his usual belligerent style that in one year there will be so much of critical minerals and rare earths that the world will not know what to do with it. On Sunday, Trump signed similar deals with Thailand and Malaysia to diversify its critical minerals supply chain, which is too China-dependent currently.

2 Why is the US showing this hurry now?