Two weeks after China told the U.S. it would ease the exports of rare-earth magnets, Chinese authorities are now dragging out the approval of Western companies’ requests for critical components, Jon Emont of The Wall Street Journal reports. Western companies say they are receiving barely enough magnets for their factories, with many concerned shortages could begin to affect manufacturing. Manufacturers take the continued challenges as a sign the new Chinese rare-earth export restrictions are here to stay. Companies involved in the development and mining of rare earth minerals include: Nova Minerals (NVA), Ioneer (IONR), Lynas Rare Earths (LYSCF), MP Materials (MP), Energy Fuels (UUUU), NioCorp (NB) and VanEck Vectors Rare Earth/Strategic Metals ETF (REMX).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVA:
- China asks rare-earth companies for information on experts, WSJ reports
- U.S.-China trade truce leaves key area of restrictions untouched, Reuters says
- China grants rare earth licenses to automaker suppliers, Reuters reports
- Automakers look for workaround to China’s hold on rare-earth magnets, WSJ says
- Charged: Tesla reports disappointing quarterly results