Overview
- At a House hearing, executives from MP Materials and Lithium Americas defended federal equity stakes and highlighted a Defense Department price floor of $110 per kilogram for NdPr to unlock private investment.
- China still dominates refining and magnet making, and after imposing new licensing and export measures earlier this year it agreed to a one‑year suspension of the latest controls under a US–China truce.
- Analysts warn dysprosium and terbium remain the bottleneck, with forecasts showing the West relying on China for about 91% of heavy rare earth needs by 2030 and prices for dysprosium far higher outside China.
- Companies are racing to secure heavy feedstock and capacity: MP Materials advanced US magnet plans and a recycling supply from Apple, VAC opened a South Carolina plant and signed heavy supply deals, and Lynas began heavy separation in Malaysia with plans to expand output.
- Europe moved to diversify supply as officials visited Beijing and the European Commission launched the RESourceEU plan, but experts cite long permitting, limited downstream capacity and higher processing costs as persistent hurdles.