Eying China, Pentagon submits new report on rare earth minerals

WASHINGTON (Reuters) - The U.S. Defense Department has submitted a report to Congress on rare earth minerals as it looks to reduce American reliance on China, a Pentagon spokesman told Reuters on Wednesday, amid mounting concern in Washington about Beijing's role as a supplier. 'The department continues to work closely with the president, Congress and the industrial base to mitigate U.S.

Reuters May 30, 2019 00:06:08 IST
Eying China, Pentagon submits new report on rare earth minerals

Eying China Pentagon submits new report on rare earth minerals

WASHINGTON (Reuters) - The U.S. Defense Department has submitted a report to Congress on rare earth minerals as it looks to reduce American reliance on China, a Pentagon spokesman told Reuters on Wednesday, amid mounting concern in Washington about Beijing's role as a supplier.

"The department continues to work closely with the president, Congress and the industrial base to mitigate U.S. reliance on China for rare earth minerals," said Lieutenant Colonel Mike Andrews, a spokesman.

"The department recently submitted a Defense Production Act III rare earth mineral report to Congress, demonstrating the department's continued focus on reducing reliance on China," Andrews said.

(Reporting by Phil Stewart and Andrea Shalal; editing by Jonathan Oatis)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

Oil settles up after hitting 15-month highs on demand prospects
Business

Oil settles up after hitting 15-month highs on demand prospects

By Laura Sanicola NEW YORK (Reuters) - Oil prices settled higher on Tuesday, with Brent hitting above $71 and trading at its highest since March, on expectations for growing fuel demand during the summer driving season in the United States as OPEC+ agreed to boost output. Brent crude futures for August settled up 93 cents, or 1.3%, to $70.25 a barrel after hitting $71 earlier in the session - its highest intra-day price since March 8. U.S.

Wall St ends little changed; energy gains, health sags
Business

Wall St ends little changed; energy gains, health sags

By Lewis Krauskopf, Shashank Nayar and Medha Singh (Reuters) - Wall Street's main indexes ended little changed on Tuesday, with gains in energy and financial shares countering declines in healthcare, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation. The S&P 500 financial sector hit a record high, while expected growth in fuel demand boosted oil prices and helped lift the energy sector

Zoom forecasts upbeat revenue on remote work, e-learning boost
Business

Zoom forecasts upbeat revenue on remote work, e-learning boost

(Reuters) - Zoom Video Communications Inc on Tuesday forecast better-than-expected revenue for the current quarter, after beating quarterly estimates, as the video-conferencing platform expects steady growth from remote work and online learning. Zoom became a household name during the pandemic as businesses and schools switched to its video conferencing platform for virtual classes, office meetings and social catch-ups