The Globe and Mail reports in its Tuesday edition that the federal government and the Saskatchewan Research Council (SRC) are preventing Canadian rare earth metals from falling into the hands of a Chinese buyer. The Globe's Niall McGee writes that Australia's Vital Metals in December announced it was selling its stockpile of rare earths that were mined at the Nechalacho project in the Northwest Territories to China's Shenghe Resources Holding Co. China accounts for 70 per cent of global rare earths mining and 90 per cent of refining and is routinely accused of dumping and monopolistic trade practices. Nechalacho at one point was the only rare earths mine in operation in Canada, and was promoted by Ottawa as part of this country's solution to Chinese domination of critical minerals. In a reversal of its earlier strategy, Vital Metals on Monday said it will not sell its rare earth metals stockpile to Shenghe. Vital will instead sell its rare earth stockpile to the SRC, an entity that is owned by the provincial government. The sale price is $3-million. Solaris Resources last month called off a planned $130-million financing deal with China's Zijin Mining Group after failing to receive regulatory approval from Ottawa.