Some stats from todays Lynas Rare Earths Presentation you may find interesting
Mining to Concentrate China 61% marketshare
Refining China 87% marketshare
Magnet Making - China 91% marketshare
Its refining that is the big dependency on China, Malaysia has a 11% share in a facility owned by Lynas.
The DoD wants Lynas to build a facility somewhere in Texas, but the time it is taking to get approvals shows a complete lack of urgency on behalf of the US.
Remember no rare earths means no electronics, which means no military equipment.
I read recently that the US has the 5th largest (known) reserves of lithium in the world. However refining it is one of the worst processes in the world, so we remain happy to let others do it and foul their nest - up until we can’t get it any more, by which time it may be too late.
Our leadership is never given credit for things like this but many of them and the admin are more than likely aware that we will possibly substitute for RRE.
Lithium is not rare and can be mined in the US. Much comes from South America and gets refined in China. All of that is changing. US companies are investing in US mining and processing. Environmental laws make it difficult. I think we wish them much success, but don’t hold your breath. Show me some profits.
Rare earths is more difficult. We don’t hear much about that these days. Companies are working on it, but not making lots of news. Very messy. And final purification still goes to China I think.