BRICS To Discuss Rare Earth Supply & Exports at 2025 Summit
The BRICS alliance will discuss the rare earth elements (REEs) supply and exports at the upcoming 2025 summit. The 17th summit is scheduled on July 6 and 7 in Brazil’s Rio de Janeiro. For the first time, the 10-member bloc, along with 14 ‘partner countries will sit at the table to discuss the future of the group. From initiating new trade deals to settling payments in local currencies and expansion, all of these remain on the cards. Also Read: BRICS Aims To Topple US Dollar With a New Currency That Does Not Exist BRICS member China controls 70% of the rare earth supply and its mining output holds 90% of the world’s processing and refining. The Communist country commands the REE sector and has placed export curbs on rare Earth magnets on April 4, 2025, as retaliation against Trump’s tariffs. It paused all supplies across the globe and the demand for it is now rising. China will dominate the summit with discussions about the supply and rewrite trade deals for expor...