China Drought of Rare Earths to India in Focus for Xi-Modi Meet

Despite a warming of the China-India relationship, automakers in the South Asian country still a lack supply of heavy rare earth magnets — an issue they hope can be resolved when Prime Minister Narendra Modi meets President Xi Jinping this weekend.

More than 50 Indian applications to import heavy rare earth magnets are awaiting approval in China, and there's been no supply since April, people familiar with the matter said, asking for anonymity to discuss private details. That was when China, which controls 90% of the world's rare earths processing, imposed strict curbs on exports to other countries amid a renewed trade war with the US.