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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":697,"relatedVideos":698},112398800810638,"11e973d6-ffb1-46ee-a14c-5f9062486cee","G7 and EU weigh price floors to counter China’s rare earth dominance","g7-and-eu-weigh-price-floors-to-counter-chinas-rare-earth-dominance","article/g7-and-eu-weigh-price-floors-to-counter-chinas-rare-earth-dominance",{"_uid":547,"date":548,"tags":549,"editor":562,"content":572,"excerpt":673,"featured":51,"reporter":674,"_editable":678,"component":679,"seo_title":543,"categories":680,"visibility":689,"author_company":49,"featured_image":690,"seo_description":673,"author_full_name":49,"author_job_title":49,"formattedDate":695,"formattedArticleDate":696},"57707921-1bce-405b-9c69-1ac5ac4630bb","2025-09-25 00:00",[550,553,556,559],{"slug":551,"name":552},"china","China",{"slug":554,"name":555},"european-union","European Union",{"slug":557,"name":558},"g7","G7",{"slug":560,"name":561},"policy","Policy",[563],{"slug":564,"name":565,"content":566},"didi-bostock","Didi Bostock",{"job_title":567,"image":568,"bio":570,"linkedin":571},"Editor - Energy Transition & Economics",{"filename":569},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":573,"content":574},"doc",[575,582,605,617,630,635,643,648,655,660,665,670],{"type":576,"attrs":577,"content":578},"paragraph",{"textAlign":49},[579],{"text":580,"type":581},"G7 nations and the European Union (EU) are reportedly examining a proposal to introduce price floors for rare earth elements, as they seek measures to reduce strategic vulnerabilities and break China’s dominance over the supply chain.","text",{"type":576,"attrs":583,"content":584},{"textAlign":49},[585,587,595,597,603],{"text":586,"type":581},"China has built a monopoly on global rare earth production and accounts for 91% of global refined rare earth oxide supply, according to the Benchmark Rare Earths Forecast. Beijing’s decision to ",{"text":588,"type":581,"marks":589},"restrict exports of rare earths in April",[590],{"type":591,"attrs":592},"link",{"href":593,"uuid":49,"anchor":49,"target":49,"linktype":594},"https://source.benchmarkminerals.com/article/china-tightens-rare-earth-exports-amid-escalating-trade-tensions-with-us","url",{"text":596,"type":581}," – a countermeasure deployed at the ",{"text":598,"type":581,"marks":599},"height of the recent trade war",[600],{"type":591,"attrs":601},{"href":602,"uuid":49,"anchor":49,"target":49,"linktype":594},"https://source.benchmarkminerals.com/article/the-trade-war-begins-what-does-it-mean-evs-batteries-and-critical-minerals",{"text":604,"type":581}," – exposed US and European supply vulnerability and has since catalysed Western policy interventions in the market. ",{"type":606,"attrs":607},"blok",{"id":608,"body":609},"28c3d447-c150-415a-b5cb-b6538624e5f3",[610],{"id":611,"_uid":612,"type":613,"_editable":614,"component":615,"fixed_height":616,"use_fixed_height":50,"fixed_height_mobile":616,"fixed_height_tablet":616},"25318060","i-2fdd98ce-9c26-453f-accb-9a1761a6dfba","visualisation","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-2fdd98ce-9c26-453f-accb-9a1761a6dfba\", \"id\": \"\"}-->","ContentFlourish","",{"type":576,"attrs":618,"content":619},{"textAlign":49},[620,622,628],{"text":621,"type":581},"In July, the US Department of Defense (DoD) inked a ",{"text":623,"type":581,"marks":624},"multibillion-dollar partnership with Nevada-based MP Materials (MP)",[625],{"type":591,"attrs":626},{"href":627,"uuid":49,"anchor":49,"target":49,"linktype":594},"https://source.benchmarkminerals.com/article/pentagon-invests-in-mp-materials-in-bid-to-break-chinas-rare-earths-dominance",{"text":629,"type":581}," to develop a fully integrated mine-to-magnet supply chain in the US. Underpinning the agreement was a 10-year NdPr (neodymium-praseodymium) minimum purchase price, designed to de-risk the project by providing visibility over future revenues. ",{"type":576,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":581},"This sent a clear positive price signal to the ex-China market, improving the bankability of rare earths projects across the West – many of which have faced delays due to a sustained low price environment. Western governments are now considering whether to extend the MP Materials blueprint to support project growth more broadly, with Australia and Canada – both countries with sizable rare earth deposits – said to have reacted positively.",{"type":606,"attrs":636},{"id":637,"body":638},"8ba97eb3-9cbe-4436-bb19-bda1868a133a",[639],{"id":640,"_uid":641,"type":613,"_editable":642,"component":615,"fixed_height":616,"use_fixed_height":50,"fixed_height_mobile":616,"fixed_height_tablet":616},"21180863","i-972a5d33-eab5-4a3e-83a8-370fc4fff1be","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-972a5d33-eab5-4a3e-83a8-370fc4fff1be\", \"id\": \"\"}-->",{"type":576,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":581},"Aside from minimum price floors, other measures under consideration include restrictions on sourcing from China, as well as the potential introduction of a tariff or tax calculated on carbon emissions generated during mining, separation, and refining.",{"type":649,"attrs":650,"content":652},"heading",{"level":651,"textAlign":49},4,[653],{"text":654,"type":581},"Policy is key to breaking China’s rare earth dominance",{"type":576,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":581},"For specific rare earth elements, the concentration of refining capacity in China is even more acute. About 98% of dysprosium refining – used in permanent magnet manufacturing – currently takes place in China. These magnets are critical for electric vehicle (EV) motors, wind turbines, and defence technologies such as F-35 fighter jets and Tomahawk missiles.",{"type":576,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":581},"Beijing’s export controls are accelerating de-risking efforts among Western countries. China’s share of total refined rare earth oxide supply is projected to fall to 69% by 2030, driven by refining capacity coming online in the US, Australia, and Malaysia.",{"type":576,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":581},"However, mitigating long-term supply dependencies on China will require Western governments to foster supportive policy environments for new entrants. This includes not only financial incentives but also streamlined regulatory approvals. The risk of sustained supply disruption may also incentivise greater substitution away from rare earth-containing magnets, partially easing supply pressures.",{"type":576,"attrs":671,"content":672},{"textAlign":49},[],"G7 nations and the European Union (EU) are reportedly examining a proposal to introduce price floors for rare earth elements, as they seek measures to reduce strategic vulnerabilities and break China’s dominance over the supply chain. China has built a monopoly on global rare earth production and accounts for 91% of global refined rare earth […]",[675],{"slug":564,"name":565,"content":676},{"job_title":567,"image":677,"bio":570,"linkedin":571},{"filename":569},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"57707921-1bce-405b-9c69-1ac5ac4630bb\", \"id\": \"\"}-->","article",[681,684,687],{"slug":682,"name":683},"critical-minerals","Critical Minerals",{"slug":685,"name":686},"geopolitics","Geopolitics",{"slug":688,"name":414},"rare-earths","private",{"id":49,"alt":691,"name":616,"focus":616,"title":691,"source":616,"filename":692,"copyright":616,"fieldtype":693,"meta_data":694,"is_external_url":51},"Deep excavation hole of an open pit mine for rare earth elements","https://a.storyblok.com/f/287943243085208/372ab4a754/bm-rareearthsupply2024myanmar.jpeg","asset",{"alt":691,"title":691,"source":616,"copyright":616},"Sep 25, 2025","25th September 2025",[],[],1784633794611]