Pentagon accelerates stockpiling of minerals amid deteriorating US–China relations

The Pentagon plans to purchase up to $1 billion worth of critical minerals as part of the US strategy to increase its reserves and reduce dependence on China for rare earth metals.

The planned purchases include up to $500 million worth of cobalt, $245 million of antimony, $100 million of tantalum, and $45 million of scandium, Caliber.Az reports citing the Financial Times.

According to their reporting, which cites documents from the US Defence Logistics Agency, the Trump administration accelerated efforts to bolster the national stockpile in recent months.

Industry representatives note that while Western governments have yet to create full-scale reserves of strategic minerals, they are increasingly focusing their efforts in this area.

The decision comes amid China's unveiling of sweeping export restrictions this week on rare earth metals and magnets used in the defence industry and high-tech manufacturing.

This prompted US President Donald Trump to cancel a meeting with Chinese leader Xi Jinping, which was planned for later this month. The US also announced that it would impose an additional 100 per cent tariff on Chinese imports in response,

By Nazrin Sadigova