China Northern Rare Earth (Group) High-Tech Co., Ltd

This was done a few years ago.

China Rare Earth Group and the China Northern Rare Earth Group, right? So all the, um, uh, rare earth oxide magnet production alloying goes through these two state enterprises, and this allows China very effectively to implement its export controls.

Previously, the, um, domestically it was much more disaggregated, and it was hard for Beijing to actually control that sector even when it wanted to.

Now, in twenty twenty-four, the world consumed about two hundred and sixty thousand tons of rare permanent magnets, and again, ninety-two percent of that production was by China.