The head of a mining company aiming to supply the EU with rare earths within two years has emphasized the importance of reducing China's dominance over the supply of raw materials used in products like cars, wind turbines, and military jets. Rafael Moreno, managing director of Viridis Mining and Minerals, a company with assets in Brazil, Australia, and Canada, said it is "paramount" to end China's control over rare earths, which are essential for many high-tech and green technologies. He also called on U.S. President Donald Trump and Chinese President Xi Jinping, who are set to meet again this week, to agree on reducing China's threat to restrict rare earth exports. China introduced export controls on rare earths in April 2025, causing significant disruptions in industries across the EU, UK, US, and Japan. After a previous summit in October, Xi agreed to a 12-month pause on stricter export restrictions, but this agreement is set to expire soon. Industry leaders had hoped Trump would finalize an extension during their last summit in May, but the issue remains unresolved ahead of the upcoming meeting. Analysts suggest the suspension could be delayed until November, when Trump is expected to visit China again for the Asia-Pacific Economic Cooperation (APEC) forum. Viridis is gaining attention in Europe, where reducing reliance on Chinese supply chains is a key priority for the European Commission. The company has begun operating a demonstration plant in Brazil to process rare earths, with plans to further refine the materials in France. Meanwhile, the EU trade commissioner, Maroš Šefčovič, is traveling to China to meet with commerce minister Wang Wentao, aiming to prevent a trade war. The EU is deeply concerned about its growing trade deficit with China, which now reaches €1 billion per day, largely due to the volume of Chinese exports in electric vehicles, renewable energy equipment, and other critical components. Despite efforts to find alternatives, the EU faces a long-term challenge, as China controls between 80% and 90% of the world's rare earths and related products. Additionally, the Chinese yuan's value makes Chinese imports significantly cheaper, putting pressure on European manufacturers to choose Chinese goods. While EU officials are working to diversify supply chains, companies like Viridis are striving to build a domestic rare earth industry. Moreno is collaborating with the French chemical company Solvay to supply European car and wind turbine manufacturers, aiming to capture 5% of the global rare earths market by 2028. He emphasized the importance of supporting local supply chains to ensure long-term sustainability and technological independence.