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A cascade of billion-dollar deals is reshaping the once-dormant Western critical-minerals industry, which the U.S. and its allies hope will act as a bulwark against aggressive trade practices by China.
Since China began restricting exports of rare earths in April—causing auto factories to halt production and rare-earth prices to shoot up—a wave of private and government funding has flowed into rare-earth companies. They now have money to hire technical experts, expand plants and make strategic acquisitions as they race to build out a non-Chinese supply of materials required in high-tech manufacturing.
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Jon Emont
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