Rare Earth Minerals Funding Deal

The deal is part of a broader strategic effort by Western nations to secure the materials necessary for high-tech industries and defense.

Meanwhile, Norway is struggling to exploit Europe's largest rare earth deposit at Fensfeltet due to high financial risks and administrative delays.

American startups are also racing to break China's 'mineral chokehold' by developing new extraction technologies.

The competition for these resources has intensified as the Iran war highlights the vulnerability of maritime trade routes.