Myanmar Lobbies U.S. for Rare Earths Investment to Rival China
The military-led government of Myanmar is urging the United States to increase investment in its rare earths sector to reduce China's global dominance.
The Government of Myanmar is lobbying the United States to increase investment in its rare earths sector as a means to reduce the dominance of China. This effort is being coordinated through the Washington-based lobbying firm DCI Group, which has described current U.S. investment goals as modest relative to the nation's resources and the strategic necessity of competing with China.
In response to these strategic needs, the United States Department of State released a strategy document aiming to secure at least three commercial or investment deals valued at over $5 million each for U.S. companies. While the U.S. encourages Myanmar to improve its peace process and business environment, the sector remains volatile. Primary production sites in the Kachin region are currently controlled by the Kachin Independence Army.
China, which processes 90% of the world's rare earth magnets, remains a primary partner to Myanmar. The Ministry of Foreign Affairs of the People's Republic of China has opposed the politicization of economic and trade cooperation, asserting its readiness to work with the international community to safeguard industrial and supply chain stability.
