China has quietly issued its first 2025 rare earth mining and smelting quotas without the typical public statement, sources with knowledge of the matter said this week, another sign of Beijing tightening its control over the crucial sector.

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

China boosted shipments of rare earth magnets in June — including to the US — after a global supply squeeze that threatened factory closures and inflamed trade tensions.Most Read from BloombergWhy the Federal Reserve’s Building Renovation Costs $2.