In his remarks at the mining conference in Cape Town this week, U.S. China is responsible for some 80 percent of the world's lithium refining. Rare earth minerals are essential for electric vehicle production and expanding the production of green technologies. Similarly, DRC President Felix Tshisekedi, who was one of the key speakers at the mining conference, has been demanding better terms from China for several years. "The Chinese, they've made a lot of money and made a lot of profit from this contract," Tshisekedi told Bloomberg at the World Economic Forum in Davos.
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