China and 19 developing nations form rare earth alliance

China and 19 developing nations formed a rare earth supply chain alliance, seen as a response to US efforts to build non-Chinese supply chains. The alliance, announced by Premier Li Qiang at the G20 summit, aims for mutually beneficial cooperation in critical minerals and to better protect developing countries' interests. This initiative follows US-led efforts to diversify rare earth sourcing away from China, which has previously used export controls as leverage in trade disputes.