Welcome back to Market on Close. I'm Sam Bartis live from the floor of the New York Stock Exchange. Trilogy Metals is rallying over 200% on the day after the announcement that the US government will take a 10% stake in the company and invest $35.6% million to support mining exploration in Alaska's Amler mining district.It's time now for Overlook Stocks and I'm joined by George Tillis, senior markets correspondent to tell us about Trilogy Metals and I suppose the significance of this deal. George. Well, I th ...

Core Points - The new National Security Law, implemented on July 1, 2015, serves as a foundational and comprehensive legal framework guiding various aspects of national security, including political, territorial, military, cultural, technological security, and more [1][3] - Over the past decade, the National Security Law has led to the establishment of a legal system with over 40 laws related to national security, including the Anti-espionage Law, National Intelligence Law, and Cybersecurity Law, among others [5] - The law has played a crucial role in ensuring food security, energy resource security, and the stability of supply chains, thereby supporting high-quality economic development and providing legal tools to counter external pressures and internal risks [8][9] Industry Impacts - The National Security Law has been instrumental in addressing threats to food security, particularly in light of increased espionage activities targeting China's agricultural sector, leading to significant legal actions against individuals and companies involved in such activities [11][13] - The law also emphasizes the importance of protecting strategic resources like rare earth elements, which are vital for high-end manufacturing and national defense, highlighting the need for vigilance against foreign exploitation [15][17] - Citizens are encouraged to actively participate in maintaining national security by reporting suspicious activities, with a structured reward system in place for those who contribute to national security efforts [22][24]

Core Insights - The report titled "2025 Rare Earth Industry Chain Research - Sino-US-EU Supply Chain Game and Geopolitical Competition Leverage" analyzes the rare earth industry, highlighting China's dominance in global supply and the geopolitical tensions driving Western nations to diversify their supply chains [2][12]. Group 1: Overview of the Rare Earth Industry - Rare earth elements consist of 17 metallic chemical elements, categorized into light, medium, and heavy rare earths, and are crucial in high-tech industries [12][13]. - China holds the largest reserves and production capacity of rare earths globally, controlling approximately 70% of the world's production and 90% of refining capacity [12][28]. Group 2: Global Supply and Resource Distribution - As of 2024, global rare earth reserves exceed 90 million tons, with China accounting for 44 million tons, representing about 48% of the total [22][23]. - The global production of rare earths in 2024 is projected to reach 390,000 tons, with China producing 270,000 tons, maintaining a dominant market share of 69% [25][28]. Group 3: China's Resource Management and Industry Structure - China implements strict total control over rare earth mining and refining, with production quotas assigned to major state-owned enterprises [34][40]. - The restructuring of China's rare earth industry has led to the formation of four major groups, enhancing resource management and market concentration [37][38]. Group 4: Market Dynamics and Growth - The market for rare earth functional materials is expanding rapidly, with significant growth in sectors such as electric vehicles and renewable energy [12][44]. - From 2018 to 2023, the revenue from the rare earth refining and separation industry has increased, with the functional materials market also showing robust growth [2][44]. Group 5: Geopolitical Implications and Supply Chain Diversification - The geopolitical landscape is shifting, with Western nations seeking to reduce reliance on Chinese rare earths by developing alternative supply chains in countries like the US, Australia, and Canada [12][33]. - The US has invested over $439 million since 2020 to support domestic rare earth supply chains, aiming to establish a complete supply chain by 2030 [33].