09/02/2026
Mayne Minerals has these in its properties
China controls 77% of germanium supply and 98% of gallium, both essential to drone optics, radar, and semiconductors.
BMO Capital Markets says mass drone warfare is now a fast-growing source of demand for both, with governments pledging $150 billion for drone and counter-drone capability over the past two years.
Drones in the Russia-Ukraine war alone account for an estimated 4% of global germanium demand, helping push prices above $11,000/kg, more than five times the historical average.
Beijing has already used this dominance as leverage.
Its export ban on both metals to the US is only suspended, not lifted. It expires November 27, and last time it was active, US germanium imports fell 67% in a year.
Talk Thought: Mining
