以下文章来源于环球时报 ，作者高雷 在美国政府无视国际法将委内瑞拉总统马杜罗强行抓走后，美国总统特朗普曾对媒体表 示，他非常在意委内瑞拉的石油资源，并准备让美国企业去控制这些资源。 然而，曾在特朗普政府担任过委内瑞拉特使的美国外交官埃利奥特·艾布拉姆斯却表示， 特朗普夸大了委内瑞拉石油的意义。在他眼中，委内瑞拉的另一种资源，应该获得美国 的更多关注…… 在一篇美国《纽约时报》 1 月 7 日刊登的访谈中， 艾布拉姆斯 首先表示 ， 他早在 5 年前就曾与美国石油行业从业者交流过委内瑞拉石油的 问题 ，得到的反馈是 该国 虽然 确实有很多石油，但在国际市场上 优势 并不突出，美国企业对委内瑞拉石油的投资热情 也并不强烈。 ▲ 图为 艾布拉姆斯 环球时报 . 报道多元世界 解读复杂中国 " 政治 " 新闻网 表示， 虽然 委内瑞拉 的稀土资源可能比埋藏在冻土或深海的格陵兰稀 土更好开采，但 眼下 该国面临的 政治 动荡 风险，却让不少美国企业不敢入局 。 但 在石油之外， 艾布拉姆斯 提到了一种他认为美国企业应该"更多关注"的资源，那便 是委内瑞拉的稀土。 他称这种资源能让委内瑞拉和美国都"受益"。 ▲ 截图来自 ...

贸易战的暗礁：稀土，中国手中的王牌 一场由关税引发的贸易战，本是美国总统特朗普寄予厚望的制胜法宝，意图借此遏制中国的发展势头。然而，事与愿违，中国巧妙地祭出了另一张王牌—— 稀土，将美国牢牢地握在了手中。近期，英国媒体的报道更是揭示了中国在稀土管控上的日益收紧，导致价格扶摇直上，部分品类甚至飙升了惊人的六十 倍，这背后究竟隐藏着怎样的博弈？ 溯源：一场意想不到的"反击" 这场风波的起点，可以追溯到特朗普政府的第二次执政时期。彼时，特朗普对中国的高科技产品和芯片施加了加征关税的重拳，企图以此扼住中国经济发展 的咽喉。然而，中国商务部并未选择退让，而是迅速采取了有力反制措施。针对七种关键稀土元素，中国实施了出口管制，要求任何购买者必须申请许可 证，并承诺不得将其用于军事目的。 此时，嗅到商机的欧洲稀土供应商立刻抓住了机会，将其中一种稀土的价格提高了整整六十倍。面对欧洲供应商的"趁火打劫"，美国企业别无选择，为了维 持自身的生产线，只能不计成本地高价采购。自此，整个稀土市场犹如被上了发条一般，价格一路飙升。中国国内，两家主要的稀土生产企业也在第四季度 宣布整体提价百分之三十七，部分重稀土品类的价格更是可能翻五倍。 ...

（来源：经济日报） 转自：经济日报 英国《卫报》24日发表题为《特朗普觊觎委内瑞拉石油属于更广泛的"资源帝国主义"》的文章说，美国 对委内瑞拉的攻势类似伊拉克战争，延续了其惯用套路：以安全为借口的指控、政权更迭的政治话语以 及对石油利益的觊觎。专家指出，美国总统特朗普最近声称美国应保留被扣押油轮上的委内瑞拉石油， 这是更广泛的右翼"资源帝国主义"的一部分。文章摘录如下： 在叙利亚问题上，特朗普同样采取了类似逻辑，将美军驻扎与控制该国东部油田直接挂钩。 特朗普还阻止其他国家出售本国资源，其中尤以伊朗为代表。通过大规模制裁与军事威胁相结合的方 式，美国政府试图切断伊朗的收入来源，并将此美化为遏制伊朗地区影响力和核野心的策略。 除石油外，特朗普还力图从其他国家获取稀土矿产，甚至不惜对美国的传统盟友施压。特朗普长期痴迷 于丹麦属下的自治领地格陵兰岛。格陵兰岛拥有大量钴、镍、铜、锂等矿产资源，白宫还曾考虑直接入 股该岛最大的稀土矿业项目。 与此同时，特朗普政府今年4月还与乌克兰达成协议，允许美国优先获取该国矿产和铀资源，以换取美 国继续向其提供军事支持。 即便不直接为美国索取资源，特朗普也积极敦促盟友增加化石燃料的使用 ...

2025年4月，特朗普宣布对中国加征关税，涉及电动车和半导体等多个领域。中国商务部迅速做出反应，决定对七类中重稀土及相关磁铁实施出口许可制 度。这一举措直接打击了美国，因为这些材料在国防和民用制造中至关重要，甚至连F-35战机和导弹系统也离不开它们。特朗普未曾预料到中国会采取如此 精准的反击，导致美国供应链遭遇重大瓶颈，企业纷纷抱怨。美国的库存难以支撑太久，军工生产面临停滞的风险。中国采取稳步推进的策略，并强调此举 是正当自卫。与此同时，全球市场也受到了波动的影响。 《纽约时报》在10月的多篇报道中详细分析了这一事件，指出中国掌握了全球稀土加工的90%市场份额，因此完全有能力通过限制出口，使美国面临更大的 困境。虽然美国本土有稀土资源，但由于提炼技术相对落后，短期内无法脱离对中国的依赖。文章还提到，自特朗普上台以来，贸易战愈加激烈，中国开始 模仿美国的技术封锁，反过来通过稀土来施加压力。时报建议中国不要急于全面实施新规，以免影响自身出口声誉，毕竟西方国家的企业很依赖中国的供应 链，断链对各方都不利。 中国的稀土出口限制被视为以其人之道还治其人之身，借鉴了美国的芯片管制方式，但这种措施的影响力要更大，因为稀土已 ...

Core Insights - A Chinese company acquired the operational rights to the largest rare earth mine in the U.S. for $20.5 million, resulting in over 10 billion RMB in returns eight years later, with an actual investment of only $110.98 for nearly 10% equity [1][29]. Group 1: Background and Acquisition - Molycorp, once a rare earth giant, went bankrupt in 2015, owing $1.7 billion, leaving only eight employees at the Mountain Pass mine [2]. - James Litinsky, a hedge fund manager, acquired Molycorp's debt and used bankruptcy laws to bid for the mine, ultimately forming a consortium with QVT Financial and Shenghe Resources to win the auction [4][9]. - The auction was competitive, with other bidders lacking the necessary technical expertise to revive the mine, which was crucial for the U.S. [5][7]. Group 2: Investment Structure and Strategy - Shenghe Resources' subsidiary invested $110.98 to acquire 9.99% preferred shares, avoiding strict scrutiny from the U.S. Committee on Foreign Investment [9]. - The real investment was a $50 million prepayment for technical and sales services, securing exclusive rights to rare earth sales, significantly boosting Shenghe's resource supply in China [11][20]. - The technical expertise of Shenghe was pivotal in negotiating lower equity acquisition costs, leveraging their knowledge of similar rare earth mines in Sichuan [15][29]. Group 3: Operational Turnaround - Shenghe's team successfully transformed the nearly defunct mine into a leading global producer of rare earths within 18 months, increasing production from 0 to 3.85 million tons by 2020 [21][23]. - The mine's workforce expanded from 8 to 740 employees, with comprehensive training programs implemented to ensure operational efficiency [21][20]. - The operational improvements led to a significant reduction in production costs, reversing the losses experienced during Molycorp's ownership [21][29]. Group 4: Market Performance and Future Prospects - In July 2020, the mine's operator, MP Materials, announced a merger with Fortress Value Acquisition, leading to a public listing and a surge in stock price, reaching a market cap of over $10 billion [25][27]. - By 2022, the price of neodymium-praseodymium powder skyrocketed to $150,000 per ton, driven by surging demand in electric vehicles and defense applications [27]. - The U.S. Department of Defense invested $400 million in MP Materials, becoming the largest shareholder, while the company faced challenges due to escalating U.S.-China trade tensions [29][31]. Group 5: Strategic Diversification - In response to trade conflicts, Shenghe Resources announced the acquisition of Australian Peak Resources, securing access to one of Africa's largest rare earth deposits [32]. - The geopolitical landscape surrounding rare earths is evolving, with the U.S. aiming to establish an independent supply chain, while MP Materials' reliance on Chinese exports remains a critical concern [34].

Core Viewpoint - The global race for rare earth resources is intensifying as countries seek to establish a supply chain independent of China, highlighting the strategic importance of these materials in modern industry and defense [1][3]. Group 1: Importance of Rare Earths - Rare earths are essential for high-end manufacturing and defense, with significant quantities required for electric vehicles, wind turbines, and military technology [5][12]. - China's dominance in the rare earth supply chain is not solely based on reserves but also on its advanced purification technology, achieving levels of purity that many Western countries cannot match [7][10]. Group 2: Western Response and Initiatives - Following China's export restrictions and price surges, Western nations initiated various strategies to reduce dependence on Chinese rare earths, including the U.S. Rare Earths Act and the EU's Critical Raw Materials Alliance [14][27]. - Australia’s Peak Rare Earths discovered a significant deposit in Tanzania, which was initially seen as a potential solution for Western supply needs [16][29]. Group 3: Challenges Faced by Western Companies - Peak Rare Earths faced significant challenges, including political resistance in Tanzania and a lack of sustained investment, which hindered its ability to develop the mine [19][21]. - The company struggled financially and ultimately had to accept Chinese investment, which led to a complete acquisition by a Chinese firm, highlighting the difficulties faced by Western companies in establishing a reliable supply chain [25][29]. Group 4: Strategic Implications - The acquisition of Peak by a Chinese company underscores the shifting dynamics in the global rare earth market, where Western efforts to secure independence have faltered due to financial and operational challenges [27][31]. - The situation illustrates the need for long-term investment and technological support in the rare earth sector, areas where Western companies have been lacking compared to their Chinese counterparts [31].

今年以来，澳大利亚最大的稀土行业企业莱纳斯公司股价"坐上过山车"——从年初的不到5美元至10月 中旬已上涨3倍，此后又迅速滑落至10美元左右。据《西澳大利亚报》26日报道，莱纳斯公司高层在当 天举行的投资者年会上表示，尽管近期受到了澳大利亚西部地区停电的困扰，但公司正在加速开发新机 遇，并争取成为未来全球市场的领导者。报道认为，莱纳斯公司已经成为澳大利亚的"稀土宠儿"。 【环球时报综合报道】编者的话：澳大利亚稀土产业正迎来前所未有的国际投资热潮。美澳关键矿产供 应协议签署后，澳大利亚多个矿产项目受到美国、欧洲资本的密集关注，股价飙升。一时间，澳大利亚 被推向了全球稀土竞争的中心舞台。然而，资本聚光灯下的澳稀土产业也暴露出不少竞争力隐忧。行业 专家告诉《环球时报》记者，部分西方国家想借投资澳关键矿产资源实现全球稀土供应链格局的重塑， 但要完成这一目标，澳大利亚尚需花费大量时间健全多方面产业要素。 澳大利亚 " 稀土宠儿 " 股价上涨 3 倍 据美国消费者新闻与商业频道（CNBC）网站报道，10月21日，美澳两国签署了一项旨在加强稀土与其 他关键矿物供应的协议，此后莱纳斯公司便宣布一份价值85亿美元的美国矿产交易 ...

Core Insights - The global rush for rare earth mining resources is driven by the desire to establish a supply chain independent of China, but recent acquisitions show that China continues to dominate this sector [1][3][4] - Australia’s Peak Rare Earths failed to create a non-Chinese supply chain, highlighting the challenges faced by Western companies in breaking free from reliance on Chinese rare earths [3][5] - China's control over the rare earth supply chain is significant, with 91.62% of global production of rare earth permanent magnet materials coming from China as of 2025 [3][12] Industry Overview - Western countries, including the US, France, and Germany, are actively seeking key mineral deposits to establish rare earth production lines, but many promising sites have already been acquired by Chinese companies [4][5] - The acquisition of Peak by a Chinese rare earth giant signifies a strategic loss for Western nations, enhancing China's market power in the rare earth sector [5][11] - The Ngualla mine in Tanzania, discovered by Peak, contains high-quality rare earth deposits, but the project faced funding challenges and was ultimately acquired by Chinese interests [5][9] Market Dynamics - China's dominance in rare earths is not solely based on resource quantity; it also controls critical processing stages, making it difficult for other countries to compete [3][12] - The trade war initiated by the US has allowed China to leverage its rare earth resources, leading to increased export revenues despite stable export volumes [3][12] - The acquisition of Peak by a Chinese firm reflects a broader trend where Western companies struggle to secure funding and support for rare earth projects, while Chinese companies benefit from state backing [11][12] Strategic Implications - The failure of Peak to secure Western funding and support underscores the difficulties in establishing a self-sufficient rare earth supply chain outside of China [9][11] - The high acquisition premium paid by the Chinese company for Peak's shares indicates a strategic long-term vision, contrasting with the short-term profit focus of Western investors [12] - The ongoing acquisitions by Chinese firms in the rare earth sector suggest that the global landscape for these critical materials will remain heavily influenced by China for the foreseeable future [11][12]

Core Viewpoint - The U.S. is facing challenges in the rare earth sector, realizing its dependency on China while seeking strategies to reduce this reliance [1][2]. Group 1: U.S. Legislative Actions and Concerns - U.S. lawmakers are urging a change in strategy to reduce dependence on China's dominance in rare earth supply, emphasizing the need for new technologies and alternative materials [1][2]. - The hearing highlighted the slow progress of U.S. mining and processing efforts, with concerns that new technologies to replace rare earths will take years to develop [1][2]. - Congressman Carlos Gimenez expressed skepticism about the U.S. ability to compete with China in the rare earth sector, suggesting that China is significantly ahead [1][2]. Group 2: Company Involvement and Government Support - Major U.S. mining companies, including MP Materials, Lithium Americas, and Niron Magnetics, have received government funding, such as a $400 million investment from the U.S. Department of Defense in MP Materials for a 15% stake [2]. - Company executives did not provide a timeline for reducing reliance on Chinese supplies, indicating uncertainty in the current geopolitical climate [2]. Group 3: Alternative Solutions and Technological Development - Congressman Raja Krishnamoorthi called for a comprehensive approach, likening it to the Manhattan Project, to end U.S. dependence on Chinese rare earths, advocating for both increased domestic mining and alternative technologies [4]. - Niron Magnetics is developing a new technology using iron nitride to replace rare earth elements in magnet production, but scaling up production will require time and additional funding [5]. Group 4: Broader Implications and Industry Challenges - The U.S. is actively seeking to reduce its reliance on China by engaging with resource-rich countries and expanding its list of critical minerals [5][6]. - Analysts note that rebuilding the Western rare earth supply chain will take time, and the industry outside of China lacks experience and technical expertise [6].

周三，MP Materials(MP.US)股价走高，截至发稿，该股涨超10%，报64.49美元。消息面上，此前公司 宣布与美国国防部及沙特国有矿业巨头Maaden在沙特共同成立一家合资企业，计划在当地建设稀土精 炼厂。MP Materials称，这一举措是"重塑全球稀土供应链格局的关键一步"。 根据协议，MP Materials与美国国防部将共同持有合资企业49%股权，而Maaden持股比例不低于51%。 值得注意的是，美国方面的全部出资将由国防部提供"无追索权融资"，而MP Materials将负责技术投 入，包括稀土分离、精炼工艺，以及全球供应和市场渠道方面的专业能力。 MP Materials表示，公司还在与沙特方面讨论在当地支持或合作开展磁体制造业务，进一步完善下游产 业链。 ...