China delays rare earth metal supplies to Western defense companies: The Wall Street Journal

China’s restrictions on the export of critical minerals are disrupting defence manufacturing in the West, forcing military suppliers to scramble for alternative sources and driving up costs across the industry. The situation has also brought to light the world’s heavy reliance on China for rare earth elements (REEs).

These magnets, used in components like drone motors, missile guidance systems, jet engines, and satellite equipment, have become exponentially more expensive.

Some materials used by defence firms are now selling for five times their typical price. In one case, samarium—a key element used in high-temperature jet fighter engines—was offered at 60 times the standard rate, the report said.

China currently supplies approximately 90 per cent of the world’s rare earths and dominates global production of rare earth magnets and other critical materials such as samarium, neodymium, and dysprosium. It also controls over 70 per cent of rare earth element mining. However, Beijing tightened export controls earlier this year amid escalating trade tensions with the United States.