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China and United States Increase State Funding for Mineral Supply Chains
China and the United States are increasing state investments to secure critical mineral supplies. The Pentagon announced a $25 million stake in a startup on Monday, while Beijing backs a new overseas mining firm. A new analysis put the cost of fully ending U.S. reliance on China at $13.7 trillion over 25 years.
Jul 13, 7:09 PM·1m read1 source
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China and the United States are increasing the use of state funds to strengthen mineral supply chains, Semafor reported. A Beijing-backed mining investment firm is focused on securing overseas supplies of critical metals, according to Bloomberg reporting cited by Semafor. Washington has taken stakes in several domestic rare earth firms.
The Pentagon announced a $25 million investment in a startup on Monday. The minerals from the firm can be used in jets, missiles, and submarines. Fresh challenges from the United States and Europe have pushed China to increase the number of tools at its disposal, Semafor reported.
It would cost the United States $13.7 trillion over the next 25 years to fully end its reliance on China in manufacturing and tech, a new analysis found.
