The world's fourth-biggest economy, Germany joins countries including New Zealand and France in calling for seabed mining exploration to stop until further research is done.

New report says China now imports half its heavy rare earths while demand from EVs, renewable energy is absorbing higher prices.

“That’s a country that has seen this need coming and made the most of it,” Resources Minister Madeleine King told Bloomberg News in an interview.

Mexico is looking to build five large solar plants, to help remodel car factories for electric vehicles and produce batteries and semiconductors in the state of Sonora.

S&P Global also said soaring prices of critical battery metals threaten the profit margins of suppliers and automakers.

Company backed by Glencore Plc has been at the heart of the UK’s ambition to build factories.

Prices have soared to unprecedented levels as demand forecasts keep growing.