In this photo take on November 19, 2025, a view of the under-construction Xinfeng County Baogang Xinli rare earths processing plant is seen in Xinfeng County, Ganzhou, in eastern China's Jiangxi province. Buried in the reddish soil of southern China lies latent power: one of the largest clusters of crucial rare earths is mined around the clock by a secretive and heavily guarded industry. The hills of Jiangxi province are home to most of China's rare earth mines, with the materials used in products from smartphones to missile guidance technology. (Photo by Hector RETAMAL / AFP via Getty Images) / To go with 'CHINA-ECONOMY-POLITICS-TRADE-MINING, REPORTAGE' by Peter Catterall

In this photo taken on November 20, 2025, the logo of the China Rare Earth Group is seen on a building at a processing plant in Dingnan County, Ganzhou, in eastern China's Jiangxi province. Buried in the reddish soil of southern China lies latent power: one of the largest clusters of crucial rare earths is mined around the clock by a secretive and heavily guarded industry. The hills of Jiangxi province are home to most of China's rare earth mines, with the materials used in products from smartphones to missile guidance technology. (Photo by Hector RETAMAL / AFP via Getty Images) / To go with 'CHINA-ECONOMY-POLITICS-TRADE-MINING, REPORTAGE' by Peter Catterall

In this photo take on November 21, 2025, a view of the facilities of JL MAG Rare-Earth is seen in Ganzhou, in eastern China's Jiangxi province. Buried in the reddish soil of southern China lies latent power: one of the largest clusters of crucial rare earths is mined around the clock by a secretive and heavily guarded industry. The hills of Jiangxi province are home to most of China's rare earth mines, with the materials used in products from smartphones to missile guidance technology. (Photo by Hector RETAMAL / AFP via Getty Images) / To go with 'CHINA-ECONOMY-POLITICS-TRADE-MINING, REPORTAGE' by Peter Catterall

In this photo taken on November 20, 2025, the logo and signage of the China Rare Earth Group is seen at its processing plant in Longnan county, Ganzhou, in eastern China's Jiangxi province. Buried in the reddish soil of southern China lies latent power: one of the largest clusters of crucial rare earths is mined around the clock by a secretive and heavily guarded industry. The hills of Jiangxi province are home to most of China's rare earth mines, with the materials used in products from smartphones to missile guidance technology. (Photo by Hector RETAMAL / AFP via Getty Images) / To go with 'CHINA-ECONOMY-POLITICS-TRADE-MINING, REPORTAGE' by Peter Catterall

In this photo taken on November 20, 2025, the logo and signage of the China Rare Earth Group is seen at its processing plant in Longnan county, Ganzhou, in eastern China's Jiangxi province. Buried in the reddish soil of southern China lies latent power: one of the largest clusters of crucial rare earths is mined around the clock by a secretive and heavily guarded industry. The hills of Jiangxi province are home to most of China's rare earth mines, with the materials used in products from smartphones to missile guidance technology. (Photo by Hector RETAMAL / AFP via Getty Images) / To go with 'CHINA-ECONOMY-POLITICS-TRADE-MINING, REPORTAGE' by Peter Catterall

TOPSHOT - In this photo taken on November 20, 2025, signage announcing a reward for those who report illegal rare earth mining activities is seen in Dingnan County, Ganzhou, in eastern China's Jiangxi province. Buried in the reddish soil of southern China lies latent power: one of the largest clusters of crucial rare earths is mined around the clock by a secretive and heavily guarded industry. The hills of Jiangxi province are home to most of China's rare earth mines, with the materials used in products from smartphones to missile guidance technology. (Photo by Hector RETAMAL / AFP via Getty Images) / To go with 'CHINA-ECONOMY-POLITICS-TRADE-MINING, REPORTAGE' by Peter Catterall

TOPSHOT - In this photo take on November 21, 2025, the new headquarters of the China Rare Earth Group is seen under construction in Ganzhou, in eastern China's Jiangxi province. Buried in the reddish soil of southern China lies latent power: one of the largest clusters of crucial rare earths is mined around the clock by a secretive and heavily guarded industry. The hills of Jiangxi province are home to most of China's rare earth mines, with the materials used in products from smartphones to missile guidance technology. (Photo by Hector RETAMAL / AFP via Getty Images) / To go with 'CHINA-ECONOMY-POLITICS-TRADE-MINING, REPORTAGE' by Peter Catterall

In this photo taken on November 21, 2025, the new headquarters of the China Rare Earth Group is seen under construction in Ganzhou, in eastern China's Jiangxi province. Buried in the reddish soil of southern China lies latent power: one of the largest clusters of crucial rare earths is mined around the clock by a secretive and heavily guarded industry. The hills of Jiangxi province are home to most of China's rare earth mines, with the materials used in products from smartphones to missile guidance technology. (Photo by Hector RETAMAL / AFP via Getty Images) / To go with 'CHINA-ECONOMY-POLITICS-TRADE-MINING, REPORTAGE' by Peter Catterall