U.S. Invests to Break China's Monopoly on Critical Minerals

China has established a powerful monopoly over critical minerals that feed everything from smartphones to fighter jets over the past decade. This has provided a significant geopolitical advantage in global supply chains and has severely weakened the United States’ competitiveness in the sector. Phoenix Tailings, a New Hampshire‑based venture led by CEO Nick Myers, is operating with the goal of breaking China’s tight control over its supply chain. The company aims to develop innovative methods for extracting and processing critical minerals from underground sources. In a Bloomberg interview, David Westin discussed with David Abraham, Heidi Crebo‑Rediker (CFR), and former U.S. Ambassador to China Nicholas Burns the reasons behind the U.S.’s lag in this area and the potential of innovation in recycling. Participants emphasized that strategic investments and technological advances could help the United States regain its competitive edge. The United States is rapidly taking steps to reduce its dependence on critical minerals and diversify its supply chain. These efforts are viewed as part of strategic investments aligned with long‑term economic and security objectives. This is not investment advice.