The tiny British company that outsmarted Xi Jinping [Yahoo! Finance]
GREAT WSTN MINRLS GRP LTD (GWMGF)
Company Research
Source: Yahoo! Finance
The metals are used to make magnets that power a plethora of everyday goods – such as computer chips and cars – as well as some of the West's most sophisticated weapons, including the F-35 stealth jet and Tomahawk cruise missiles. With China wielding a stranglehold over both magnet manufacturing and processing of critical minerals, its export controls threatened to bring Western production lines to a grinding halt. Responding to the move, the US government accused Beijing of attempting a “global supply chain power grab”. But one person who wasn't panicking was Grant Smith, an Australian businessman. In fact, his phone was soon ringing off the hook – because the tiny British company he owned, Less Common Metals (LCM), was suddenly one of the only Western producers of rare earth magnet alloys left outside of China That was the result of a years-long effort to develop alternative supplies, which saw mining veteran Smith convince a French metal producer to restart a mothballed
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