Europe Should Break Chinas Grip on Rare Earth Pricing, Industry Leader Says

A Lynas Corp. worker walks past sacks of rare earth concentrate waiting to be shipped to Malaysia, at Mount Weld, northeast of Perth, Australia, on Aug. 23, 2019. Melanie Burton/ReutersEurope should create its own clear pricing mechanisms for rare earths and other critical minerals to reduce dependence on China and encourage investment in local sources, according to the head of EIT RawMaterials.These materials are key components in electric vehicle motors, renewable energy equipment, electronics, and defense technologies. China currently dominates 90 percent of global rare earth output, which influences prices mainly through its internal markets.