China Intensifies Export Restrictions on Defense-Critical Minerals to the U.S.

China has recently heightened its efforts to block the U.S. and its allies from accessing essential critical minerals. This is in response to growing tensions, as noted by Mark Smith, CEO of NioCorp Developments Ltd. The affected minerals now include tungsten, tellurium, bismuth, molybdenum, and indium, following a previous ban on gallium and germanium.

The latest restrictions could have significant implications for the U.S. defense industry, according to Smith. If China further limits access to rare earth elements, used in numerous defense applications, it could severely impact U.S. national security. Furthermore, China has added 28 U.S. defense companies to its Export Control List, restricting their importation of "dual-use" technologies from China.

NioCorp is developing the Elk Creek Critical Minerals Project in Nebraska to mitigate such dependencies, targeting the production of niobium, scandium, titanium, and rare earth minerals.