Beijing says it is ‘willing to enhance communication’ on strategic minerals, which have taken centre stage in US-China trade negotiations.

Beijing has approved more export licenses for the critical minerals and magnets in recent days, but supplies remain scarce and factories in the West are running out.

China has agreed to fast-track approvals for the shipment of rare earth minerals to the United States and some European Union nations.

Beijing says it is ‘willing to enhance communication’ on strategic minerals, which have taken centre stage in US-China trade negotiations.

China appears to have offered U.S. and European auto giants something of a reprieve over a rare earth shortage.

China’s curbs on rare earth exports are reflected in trade data as value plummets in May, and risks to US supply chain are seen.

A fully integrated rare earth supply chain within the U.S. is doable—with government support and private-sector innovation.