Oddly enough, underground resources frequently belong to the state in a surprising number of places. In the province of Alberta in Canada, for instance.
On the other hand, if I am not mistaken, this regulation applied to resources that had already been legally found by, or sold to, private interests
 
Oddly enough, underground resources frequently belong to the state in a surprising number of places. In the province of Alberta in Canada, for instance.

Almost every nation state holds sovereignty over underground resources within its jurisdiction (unless those rights have previously been sold or transferred to inidivuals or corporate entities). The USA is an extreme outlier in this regard.
 
09:33

China's rare earth minerals are critical for aerospace industry


Jagdip Cheema
Business reporter

It looks like the Trump administration got wind of Beijing’s plan to restrict the export of 25 critical minerals.

On Monday, the US president mentioned he wanted Ukraine to guarantee the supply of more rare earth metals in exchange for Washington’s $300bn (£241bn) support.

Some of these metals, known as "REM", are key components for many electrical products.

On Beijing’s restricted list this morning is tungsten, which is difficult to source and a crucial material for the aerospace industry.

Also on the list is tellurium, which is widely used for solar panels and molybdenum, which is vital for planes.

China says the restrictions will protect its "national security interests", knowing it’s very difficult to find a replacement for its supplies.
 

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