Just four months into his tenure at the Pentagon, private equity billionaire Steve Feinberg has landed his first big deal: a $400 million bet on the US’s only miner of rare-earth elements, a key commodity in the rivalry with China.

China's rare earth export curbs disrupt India's electric vehicle (EV) ambitions, sparking urgent policy shifts and efforts to reduce dependency through domestic production and alternative sourcing.

The moves by Apple and the Pentagon are part of a broader U.S. push to nearshore rare earth supply chains. Earlier this year, President Trump proposed annexing Greenland, an autonomous Danish territory estimated to contain $4.4 trillion worth of rare earth reserves. Vice President JD Vance made a surprise visit in support of the plan.

China has put export restrictions on technologies critical for producing electric vehicle batteries, in a move to consolidate its dominance in the sector that has contributed to the country’s lead in the global EV race.

China's exports growth beat expectations in June as businesses continued to divert shipments to non-U.S. markets while shunning the U.S. despite a tariff reprieve.

Sona Comstar has developed new motors using light rare earth elements like cerium, samarium and neodymium, while Ather Energy too is keen to move towards light rare earth magnets. Ola Electric says it