The hunger for rare earths and critical minerals is shaping global geo-political developments. The control and access to minerals will define powers equations for the next few decades. Countries with ready and affordable access to these minerals will be strengthen their economies. Supply control of such minerals will underpin an economy’s technological prowess. The scramble for natural resources has been occurring for ages. Western powers have scrambled to control supply of oil, gas and minerals for centuries. In the current era however, countries from Asia are competing with the west for critical minerals. US, UAE and India are among the countries which are eagerly securing mineral supplies for their economies. China has somewhat of a head start with its investments in the African continent over the last few decades. In the tariff war with US, China has put exports controls on rare earths. Seven categories of medium and heavy rare earths, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium-related items, will be placed on an export control list, the Chinese govt has said.
Global race for minerals will define new power equations (Pranjal Sharma, Observer Research Foundation)
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