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Stock impact report

China's critical mineral dominance puts Washington's supply chain hopes at risk [Yahoo! Finance]

Freeport-McMoRan, Inc. (FCX) 
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
London-based minerals research and pricing firm Benchmark Mineral Intelligence said that most of the DRC's cobalt - a crucial component in electric vehicle batteries and other electronics - is already in the hands of mining companies from China. Chinese companies control two-thirds of cobalt in the DRC, which accounts for an estimated 74 per cent of global output, putting it at a "high risk" of falling foul of the foreign entity clause in the US Inflation Reduction Act (IRA). Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. CMOC, previously known as China Molybdenum, is a top cobalt producer from its two main sites in the DRC - Tenke Fungurume mine and Kisanfu project - and a potential target for the IRA's foreign entity of concern clause (FEOC), Benchmark Minerals said. Benchmark's Show less Read more
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