This post was originally published on GreenMet

Washington, DC – Today, China announced another anticompetitive ban in the critical mineral sector, prohibiting the export of several rare earth processing and refining technologies. By specifically targeting the mineral processing space, China is attempting to further solidify its monopoly over the critical mineral supply chain.

This decision is intended to further cement global reliance on the Chinese in the absence of domestic commercial scale alternatives and hinder the ability of the U.S. and its closest allies to reshore essential mining, processing and refining capabilities. These anti-competitive tactics are part of a large-scale, multi-pronged effort by China to continually undermine and interfere with the efforts of the U.S. government and the private sector.

Following the news, GreenMet CEO Drew Horn issued the following statement:

“Innovative and exciting technological alternatives to the environmentally destructive Chinese methods of processing and refining have been developed in the United States. GreenMet is proud to be doing its part by investing in and advising U.S. companies that are developing environmentally sound, socially responsible technologies at every stage of the supply chain. Together, by navigating regulatory requirements and leveraging public and private capital, we are facilitating the immediate commercialization of innovation.

The U.S. has everything it needs from mineral to end-use manufacturing domestically, it just needs its mineral policies to align with the imperatives of national security, energy independence and economic stability.”

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