The country’s commerce department added technology for extracting and separating rare-earth metals and making rare-earth magnets to a list of items banned from being sent overseas. (Reuters, Bloomberg)

Talking point: China processed at least 85 per cent of the world’s rare earths as of 2019, monopolizing essential elements  used for electric vehicles, medical devices and fighter jets. Pressure is mounting to build a North American rare-earths supply chain, and this news comes days after Canada’s darling domestic rare-earth mine and processor announced a supply deal with a Chinese investor. Other firms want to fill the gap. BMW and STDC-backed Cyclic Materials opened an Ontario pilot plant this month for recycling rare-earth magnets. But there are still weak links in the supply chain that need to be fortified, said Pat Ryan, CEO of Halifax-based UCore Rare Metals, in a report released earlier this month. Meanwhile, the White House is reportedly readying to slap higher tariffs on Chinese goods, including EVs.