Molycorp CEO Mark A. Smith told the US Congress this week that the USA needs to “urgently” ramp up its own rare earth production.
The speech, made Wednesday this week and publicised late Thursday, outlined that the chief had had conversations with “senior Chinese officials” who warned that further export cuts were expected.
"Senior Chinese officials relayed to me last week, both privately and through public statements, that China has no intention of remaining the world's major supplier of rare earths and that it will continue to shift its focus to domestic demand," Smith told the...