BRICS Hold 76 Million Metric Tons of Rare Earth Minerals, US Owns 1.9M
Four of the top five founding members of the BRICS alliance hold a combined 75.7 million metric tons of rare earth minerals. On the contrary, the US holds only 1.9 million metric tons of the rare earth reserves. The US is far behind and now depends on other countries for resources. BRICS member China dominates the list, controlling the majority of the rare earth minerals. China holds a staggering 44 million metric tons, having the world’s biggest reserves. The Communist country is now leveraging its resources to dictate trade terms and policies with the US and other Western countries. Source: Bluekurtic Market Insights / InvestingNews.com Also, BRICS member Brazil comes second with 21 million metric tons of the rare earth minerals. India is in the third spot, holding 6.9 million metric tons of materials. Russia also holds 3.8 million metric tons, owing to a vast reserve of natural resources. Also Read: BRICS New Members: China & Brazil Back Malaysia’s Full Entry BRICS Controls The...