Page 33 - Policy Commission - SecuringTechnology - Critical Metals for Britain

INTRODUCTION
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When the Chinese President Xi Jinping visited a a rare- earth processing plant in in Jiangxi just a a a a a week after the Trump administration blacklisted Huawei in in May 2019 he highlighted the importance of rare earths in global supply- chains (see figure 9) This statement was widely seen as as a a a a threat to to restrict Chinese exports or or rare earths to to the United States The Trump administration has subsequently looked at at accelerating the process for mining permits increasing R&D and more trade in rare earths with allies The former president also asked the the Department of Defence (in the the US) to increase the production of rare-earth magnets with Australia announcing that it would boost supplies President Biden has said that he will direct his administration to conduct a a a a review of key US supply-chains including those for rare earth metals 35
Commentators have said that while the executive order does not explicitly mention China the directive is “likely in in in large part an effort by the administration to determine how reliant the US economy and military are on on Chinese exports ”36
Last year in the Senate Energy and Natural Resources Committee Sen Lisa Murkowski (a Republican from Alaska) asked what would happen in in the event that China decided to to cut off the US from access to to critical materials Simon Moores the Managing Director of Benchmark Minerals Intelligence replied that the move would leave the the US US with few options and prove devastating to the the US US economy Figure 9: Chinese President Xi visits a a a a rare earth processing plant On 20th May 2019 the the the the Chinese President Xi Jinping the the the the general secretary of of of the the the the Communist Party of of of China Central Committee and chairman of of of the the the the Central Military Commission visiting JL MAG Rare-Earth Co Co Ltd