California [US], August 22 : House Foreign Affairs East Asia and Pacific Subcommittee Chairwoman Young Kim (CA-40) this week visited MP Materials' Mountain Pass Rare Earth Mine and hosted a roundtable at the Nixon Library, highlighting efforts to strengthen the US critical minerals supply chain and curb reliance on China, according to the press release by Young Kim's office.
"This week, House Foreign Affairs East Asia and Pacific Subcommittee Chairwoman Young Kim (CA-40) held a roundtable at the Nixon Library on strengthening our US critical minerals supply chain and led a site visit to MP Materials' Mountain Pass Rare Earth Mine, the only large-scale rare earth mining and processing facility in the United States," stated the release.
"Rep Kim led the first congressional visit to the mine since the Department of Defence initiated a multibillion-dollar public-private partnership with MP Materials, and Apple pledged USD 500 million to advance US-made rare earth magnets for its devices. These commitments will help reduce US reliance on China for rare earth elements and secure America's most sensitive defence supply chains," according to the release.
"We cannot rely on the Chinese Communist Party to power our most critical technologies and defence systems," said Rep Young Kim. "China's move to restrict critical minerals supplies on April 4 was a sucker punch to US industries and a wake-up call to Washington. As Chairwoman of the East Asia and Pacific Subcommittee, I remain laser-focused on protecting our economy and national security by building secure, resilient supply chains that Xi Jinping can't lay a finger on, as quoted by the release.
Earlier, Chairman Moolenaar of the House Select Committee on China, along with Chairman Rick Scott of the Senate Committee on Aging, addressed a letter to SEC Chairman Paul Atkins, requesting that the Commission initiate the delisting of Chinese firms that pose significant risks to national security and investor protection, as stated in a release by the Select Committee on the CCP (SCCCP).
According to the SCCCP announcement, the correspondence highlighted Chinese companies listed on US stock exchanges, such as Alibaba, Baidu, Hesai, and Zeekr, which took advantage of American capital markets while furthering the strategic goals of the Chinese Communist Party (CCP), including military advancement, surveillance, and forced labour.
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