China Is Closing the Door on Heavy Rare Earth Exports for Good, NioCorp CEO Warns in Fox News Op-Ed

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Beijing's Current Heavy Rare Earth Restrictions Are a Permanent Strategic Shift, Not a Temporary Bargaining Tactic, Smith WarnsTrump Administration is Moving Aggressively to Accelerate the Build-Out of Domestic Mine-to-Manufacturer Supply ChainsIndustry and the Pentagon Still Face Dangerous Shortages Until the US Production Comes Online, Including NioCorp's Elk Creek Project in Nebraska CENTENNIAL, CO / ACCESS Newswire / June 1, 2026 / FoxNews.com today published an opinion-editorial by Mark A. Smith, Chairman and CEO of NioCorp Developments Ltd. ("NioCorp" or the "Company") (NASDAQ:NB), warning that China's current export restrictions on heavy rare earth exports are not a temporary negotiating tactic but a permanent strategic decision. U.S. companies and the Pentagon face severe shortages that will not be addressed until U.S. production comes online.The op-ed can be seen here: https://www.foxnews.com/opinion/west-still-doesnt-grasp-danger-chinas-rare-earth-endgame.In the op-ed, Mr. Smith argues that Western leaders are misreading Beijing's intentions when they treat each new export restriction as leverage to be traded away at the next summit."Some Western leaders keep treating each new Chinese export restriction as a bargaining chip," Mr. Smith writes. "That is the wrong way to read what is happening. China is methodically executing a long-term economic and military plan to stop shipping these materials abroad altogether."Heavy rare earths such as dysprosium and terbium are essential to high-performance permanent magnets that power modern jet aircraft, advanced weapons systems, and hybrid and electric vehicles. A small fraction of these elements by weight allows magnets to withstand intense heat without losing strength. These magnets, along with samarium-cobalt rare earth permanent magnets, help steer cruise missiles, point fighter-jet radars, and drive the silent propulsion in America's submarines. For more than a decade, China has been the world's near-sole supplier but Beijing effectively shut that door to Western defense companies in April of last year."A kilogram of dysprosium shipped abroad as a powder earns China a few hundred dollars and employs a handful of miners," Mr. Smith writes. "The same kilogram, tucked inside the motor of an electric car, helps roll a $40,000 vehicle off a Chinese assembly line." Multiplied across the millions of vehicle...

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