美日印澳稀土联盟正式成立，中国修法反击，29年来首次大动作

Group 1 - The establishment of the Quad alliance aims to diversify the supply chain of critical minerals, reducing reliance on China, which currently supplies 87% of rare earths for the F-35 fighter jet and is crucial for other military systems [6][8] - China's revised Mineral Resources Law, which has expanded from 7 chapters and 53 articles to 8 chapters and 80 articles, emphasizes the protection of national mineral resource security, coinciding with the Quad's announcement [6][10] - The new law introduces a "strategic mineral catalog," requiring buyers to specify the intended use of rare earths, complicating approvals for military and sensitive applications [12][20] Group 2 - The Quad countries face significant challenges in establishing an independent rare earth supply chain, including the need for substantial capital investment, estimated in the billions, and ongoing funding [20][22] - Technological barriers exist, as China currently dominates the large-scale, low-cost, and high-purity production of rare earths, while other countries lag behind in technological capabilities [22][24] - The rare earth market is characterized by high volatility and regulatory risks, raising concerns about the sustainability of investments in a market that may face declining demand or technological shifts [20][26] Group 3 - China controls over 90% of the global rare earth refining capacity and contributes 72% of the total production, establishing a robust ecosystem over the past 30 years through advanced technologies and strategic acquisitions [24][26] - The competition for rare earths is not merely a commercial transaction but a strategic battle for global industrial dominance, with the Quad seeking to break free from dependency while China aims to maintain its advantageous position [28][30]