Core Viewpoint - Cleveland-Cliffs is shifting focus from traditional steel production to rare earths mining, indicating a strategic pivot in its business model [1] Financial Performance - The third-quarter earnings report showed that earnings were not the primary focus, as the company is prioritizing its entry into the rare earths sector [1] Strategic Shift - Cleveland-Cliffs aims to diversify its operations by exploring opportunities in rare earths mining, which is seen as a growth area amid increasing demand for these materials [1] Industry Context - The move into rare earths aligns with broader industry trends where companies are seeking to secure supply chains for critical materials essential for technology and renewable energy [1]

WASHINGTON (Reuters) -Group of Seven finance ministers agreed to keep a united front and coordinate their short-term response to China's export controls on rare earths and to diversify suppliers, European Economic Commissioner Valdis Dombrovskis said on Thursday. Speaking to Reuters on the sidelines of the International Monetary Fund meetings in Washington, Dombrovskis said China now dominated the global supply chains for rare earths with 80-90% of them coming from China. "It was clear that G7 partners h ...

Well, after eliciting a strong response from President Trump, the Chinese are defending their new restrictions on rare earth exports today, the foreign ministry said the US has continuously introduced a series of restrictions and sanctions against China, which have severely harmed China's interests. China firmly opposes this. So, in other words, from China's perspective, Beijing is only matching Washington's policy.The Chinese are also threatening to retaliate against President Trump's 100% tariff threat. O ...

Core Points - The article discusses the ongoing trade tensions between the US and China, particularly focusing on China's response to US tariffs and export curbs [1][2][3] Group 1: US-China Trade Relations - President Trump has softened his stance on China after threatening new 100% tariffs starting November 1st [1] - China is defending its approach to expand export curbs, claiming that US restrictions have harmed its interests [2][3] - The Chinese government views its actions as a response to US provocations and is threatening retaliation against the tariff threat [3][4] Group 2: Rare Earth Curbs - China has pledged to take corresponding measures in response to US tariffs, while clarifying that its rare earth curbs do not equate to a ban [4][5] - Analysts speculate that China may be using the rare earth curbs to extract concessions from the US ahead of an expected meeting between Presidents Trump and Xi [5][7] - The Chinese believe that maintaining their stance on rare earths could provide leverage in negotiations, placing the onus on President Trump to respond [7] Group 3: Economic Impact - The trade tensions are expected to significantly impact manufacturing, with some analysts describing the situation as a de facto embargo on China [8][9] - Current export numbers indicate that only 10% of direct shipments to China come from the US, suggesting a shift in China's reliance on American goods [10][11] - The Chinese government is adept at identifying pressure points for President Trump, focusing on issues like rare earths and soybeans, which are politically sensitive for him [12] Group 4: Chinese Negotiation Goals - China aims to have tariffs lifted and export controls on high-tech items removed to gain access to advanced technology [14][15] - The Chinese strategy appears to involve reducing reliance on the US while still seeking high-end technology items [15]

The US stock market plunged on Friday after President Donald Trump threatened a new wave of tariffs on Chinese goods, reigniting fears of a full-blown trade war. The announcement sent shockwaves through Wall Street, wiping billions off market values and prompting investors to rush into safe-haven assets.By the end of trading, the S&P 500 had dropped more than 2.5%, while the Dow Jones Industrial Average slid nearly 2%. The Nasdaq Composite was hit hardest, tumbling over 3% as tech shares faced heavy selling ...

By Karen Brettell and Amanda Cooper NEW YORK (Reuters) -The dollar dropped on Friday after U.S. President Donald Trump threatened to hike tariffs against China, reigniting concerns over how the trade war will impact the U.S. economy. Trump also said he may cancel a planned meeting with Chinese President Xi Jinping and complained on social media about what he called China's plans to hold the global economy hostage after China dramatically expanded its rare earths export controls on Thursday. The comments ...

Core Viewpoint - China is implementing stricter export controls on rare earths in response to ongoing trade tensions with the U.S. [1] Group 1: Export Controls - The new export controls are aimed at regulating the supply of rare earths, which are critical for various high-tech industries [1] - These measures are expected to impact global supply chains, particularly for companies reliant on rare earth materials [1] Group 2: Trade Tensions - The tightening of export controls is a direct reaction to the escalating trade disputes between China and the U.S. [1] - This move may further exacerbate the already strained economic relations between the two countries [1]

BEIJING (Reuters) -China tightened its rare earth export controls on Thursday, expanding restrictions on processing technology, unauthorised overseas cooperation and spelling out its intention to limit exports to overseas defence and semiconductor users. Exports of technology used to mine and process rare earths or make the associated magnets is barred without permission, the Ministry of Commerce said in a statement. Many of these technologies are already restricted and it was not immediately clear what t ...

Core Insights - Shares of Critical Metals surged nearly 53% in premarket trading following reports of U.S. government talks to buy a stake in the miner, aimed at securing rare earth supply [1] - A successful deal would provide the U.S. government with a direct interest in the largest rare earths project in Greenland, enhancing supply chain independence from China [2] - The U.S. government is actively pursuing critical minerals to reduce reliance on China, including investments in both domestic and overseas projects [3] Company Developments - Critical Metals acquired Greenland's Tanbreez rare earth deposit for $5 million in cash and $211 million in stock last year [3] - The company applied for a $50 million Defense Production Act grant, which may be converted into an equity stake of approximately 8% [4] - Critical Metals announced a $35 million funding agreement with an unnamed institutional investor for Tanbreez's development [4] - The company's shares have increased by about 17% this year, valuing it at roughly $787 million [4] Financial Reporting - The company restated financial statements for the six months ended December 31, 2024, and 2023, advising investors against relying on earlier reports [5]

Core Points - Shares of Critical Metals surged over 75% in premarket trading following reports of potential U.S. government equity stake discussions in the company [1] - The U.S. government is interested in Greenland's largest rare earths project, which aligns with President Trump's strategy to enhance domestic production of critical minerals [2][3] Company Overview - Critical Metals focuses on securing lithium and rare earths for U.S. and European markets and acquired the Tanbreez deposit in Greenland for $5 million in cash and $211 million in stock [3] - The company has applied for a $50 million grant under the Defense Production Act, with discussions ongoing about converting this grant into an equity stake [4] Market Performance - As of the last close, shares of Critical Metals have gained over 17% this year, resulting in a market capitalization of approximately $786.9 million [5]