Jun. 25 at 11:50 AM
$NVA $IONR $LYSCF $MP
China asks rare-earth companies for information on experts, WSJ reports
China has asked companies in its rare-earth industry to give the government lists of employees with technical expertise in an effort to prevent trade-secret leaks, The Wall Street Journal's Jon Emont reports.
According to people familiar with the queries, China's Ministry of Commerce in recent weeks asked rare-earth companies based in China for personnel lists that include specialist employees' specific expertise, education, research background and personal information, with the goal to develop a formal catalog of Chinese nationals with rare earth expertise and keep tabs on these employees to make sure they don't travel abroad and reveal secrets.
One of the people says some experts at Chinese companies have been asked to turn in their passports to their companies or local authorities, to ensure they don't make any unauthorized trips. Companies involved in the development and mining of rare earth minerals include: Nova Minerals (NVA), Ioneer (IONR), Lynas Rare Earths (LYSCF), MP Materials (MP), Energy Fuels (UUUU), NioCorp (NB) and VanEck Vectors Rare Earth/Strategic Metals ETF (REMX).
