China’s rare earth ore imports from the U.S. surged to 4,719 metric tons in July, likely the final shipments from U.S. supplier MP Materials. MP halted exports to China in July after the U.S. Department of Defence invested in the company. China’s rare earth magnet exports to the U.S. rose by 75.5% in July. The U.S. plans to procure up to $500 million worth of cobalt for defense stockpiles and is considering reallocating $2 billion from the CHIPS Act to fund critical minerals projects. China released interim measures for the control and management of rare earths mining, smelting, and separation activities.

Read more at Yahoo Finance: China’s imports of US rare earth ore surge in July