China's exports of rare-earth magnets to the United States in June surged more than six times from May levels, following successful Sino-U.S. trade talks.

Decades of process innovation and industrial policy helped China corner the rare earths market while the US fell behind.

Ramaco, a mining company, is developing a small coal mine in Wyoming that will extract rare earth elements from the coal it produces. The company has secured a $6.1 million grant from Wyoming for a $533 million facility to mine and refine rare earths for the domestic market.