OUR MISSION . . . Reversing China 's Monopoly
“There is oil in the Middle East. There are rare earths in China. We must take full advantage of this resource.” Chairman Deng Xiao-ping who succeeded Mao-Tse Tung as China’s head of state
Permanent Magnets are indispensable components used in the manufacture of automobiles including all EVs, trucks, buses, audio equipment, cell phones, consumer electronics, robots, wind turbines, airplanes, drones, missiles, etc. Both industrial and military sectors are dependent on PMs, 92% of which are made in China or made from materials sourced from China.
China's near monopoly arises from certain high quality mineral ores such as neodymium, samarium, praseodymium, etc. (often referred to as Rare Earths) mined in China as well as Chinese technology to process and purify these Rare Earths. To protect its monopoly, China banned the export of Rare Earth refining technology last year.
The emergence of China as a fierce trade competitor as well as a potentially hostile military power make PMs a highly vulnerable part of America's industrial and military supply chain.
Not only does China have the best quality of Rare Earth Mineral Ore, it has also developed highly advanced technology to refine the Rare Earth Mineral Ore. As of December 2023, China has banned the export of this critically important refining technology.
There is no comparable example of one country having such a dominant monopoly power over supply of a critical component used in both industrial and military sectors of the economy.
