美国豪掷70多亿“全球买稀土”，外界警惕：可能准备“挖墙脚”

Core Insights - The U.S. is actively investing in the rare earth sector, with significant moves including a $400 million investment in MP Materials and a $1 billion procurement plan for critical minerals [1][7][29] - The primary challenge for the U.S. is not the availability of rare earth minerals but the technology to process these minerals into high-end products [1][8][29] Investment Moves - In July, the Pentagon acquired a 15% stake in MP Materials, making it the largest shareholder of the only large-scale rare earth mine operating in the U.S., the Mountain Pass mine, which has over 1.7 million tons of rare earth oxides [3][5] - The Pentagon's investment includes a price guarantee for neodymium-praseodymium oxide at $110 per kilogram, ensuring a stable market for MP Materials as it invests in technology development [5][8] Supply Chain Strategy - The U.S. is looking to establish a complete rare earth supply chain, with MP Materials planning to build a new facility in Texas to produce 1,000 tons of neodymium-iron-boron magnets annually [5][11] - The Pentagon's recent procurement plan is partly a response to China's export controls on rare earth technologies, which complicate the U.S.'s ability to quickly build its own supply chain [10][22] Global Partnerships - The U.S. is seeking global partnerships to bolster its rare earth supply chain, including a collaboration with Saudi Arabia to establish a complete supply chain from mining to magnet production [11][12] - The U.S. is also in discussions with Ukraine for potential rare earth cooperation, although the current geopolitical situation poses challenges [14] Competitive Landscape - The U.S. faces significant competition from China, which dominates the rare earth processing and manufacturing sectors, holding over 70% of global patents related to rare earth technologies [16][19][22] - The cost of production for MP Materials is significantly higher than that of Chinese competitors, which poses a challenge for the U.S. to compete effectively in the global market [17][19] Market Dynamics - The rare earth market is experiencing a "dual-track" pricing phenomenon, with international prices soaring while domestic prices in China remain stable, creating opportunities for companies like Lynas to expand their production [25][27] - The ongoing trade tensions between the U.S. and China are causing a significant restructuring of the global rare earth supply chain, moving from a China-dominated model to a more competitive landscape [27][29]