Reuters Econ World Mission critical: Trump and the mineral race
Jan 28, 2026
Ernest Scheyder, senior Reuters correspondent and author of The War Below, explains the global scramble for critical minerals. He covers China’s dominance, U.S. moves like equity stakes and fast-tracking deep-sea mining permits. They also explore geopolitical jockeying in Greenland and efforts to build resilient Western supply chains.
AI Snips
Chapters
Books
Transcript
Episode notes
China's Dominant Position In Critical Minerals
- China dominates processing and production of critical minerals, especially for batteries and electronics.
- That control gives China leverage over global supply chains and prices.
Ecosystem Advantage, Not Just Resources
- China built an integrated ecosystem by offering cheap processed minerals and training thousands in mining skills.
- This ecosystem attracted manufacturers and consolidated China's role as a battery and processing hub.
U.S. Cobalt Mine Failed After Price Crash
- Ernest describes a U.S. cobalt mine that opened and quickly shut after Chinese-linked supply crashed prices.
- The mine's owner went bankrupt because lower-priced cobalt from the DRC made U.S. production uneconomical.
