China expands rare earths restrictions, targets defense and chips users

Contributing sentiments towards policy:

62% : Energy Fuels, which owns a uranium and rare earths processing facility in Utah, said in a statement to Reuters that it is working to boost U.S. rare earths production and that its recent pilot project "showcases the technical capabilities of an American company on American soil.
55% : The rules will also apply to research and development of artificial intelligence with potential military applications. South Korea, home to major memory chipmakers Samsung Electronics (005930.KS), opens new tab and SK Hynix (000660.KS), opens new tab, is assessing the details of the new restrictions and will continue discussions with China to minimise their impact, its industry ministry said in a statement to Reuters.
53% : In a nod to concerns about supply shortages, the ministry said the scope of items in its latest restrictions was limited and "a variety of licensing facilitation measures will be adopted". China's latest restrictions on the five additional elements and processing equipment will take effect on November 8, just before a 90-day trade truce with Washington expires.
53% : Shares in U.S.-based rare earths companies jumped as well in New York afternoon trading, with Critical Metals Corp (CRML.O), opens new tab gaining 25%, Energy Fuels (UUUU.A), opens new tab adding 9%, MP Materials (MP.N), opens new tab gaining 2.5% and USA Rare Earth (USAR.O), opens new tab up 15%.
51% : The new curbs come ahead of a scheduled face-to-face meeting between Trump and Xi in South Korea at the end of October.
50% : "The White House and relevant agencies are closely assessing any impact from the new rules, which were announced without any notice and imposed in an apparent effort to exert control over the entire world's technology supply chains," a White House official told Reuters on Thursday.
45% : BEIJING, Oct 9 (Reuters) - China dramatically expanded its rare earths export controls on Thursday, adding five new elements and extra scrutiny for semiconductor users as Beijing tightens control over the sector ahead of talks between Presidents Donald Trump and Xi Jinping.

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