RE: Rare Earth War29 Nov 2020 00:38
And
the Biden administration plans to make rapid investments to “irreversibly” lead America down a path to green energy reliance. If that’s the case, then changes have to be made so we’re not irreversibly dependent on China for our energy.
They’ll have to be made fast because Chinese companies, backed by their government, are making a major power grab for those most crucial materials. By acquiring foreign mines, securing voting shares in natural resource companies, and buying long-term contracts abroad, China is trading capital for influence. For example, two-thirds of the world’s cobalt production, which is necessary for batteries, comes from the Congo—but Chinese companies control half of it. Taking cobalt processing into account, over 80 percent of cobalt chemicals needed for batteries flow through China.
I am holding all my MKA shares because it looks like 2021 is gonna be some ride.