Myanmar rebels seize rare-earth mining hubs, Nikkei reports

Armed rebels are taking control of key rare-earth mining areas in Myanmar, a development that could disrupt supply chains for electric vehicles and more that pass through China, Nikkei Asia reports. The Kachin Independence Army, or KIA, had wrested control of Chipwi and Tsawlaw, both critical mining hubs, from the military regime’s Border Guard Force Battalion by early November. The KIA also occupied Pangwa shortly after officials from its political arm met Deng Xijun, China’s special envoy for Asian affairs, in mid-October, when Deng reportedly urged the group to cease its resistance against Myanmar’s military regime. Myanmar accounted for 11% of the world’s rare-earth production in 2023, behind only China at 68% and the U.S. at 12%, according to the U.S. Geological Survey. Publicly traded companies in the space include MP Materials (MP), Energy Fuels (UUUU), and NioCorp (NB).