Overview

• China controls about 99% of global rare-earth refining capacity, according to the U.S. Geological Survey.
• In July the Department of Defense signed a 10-year agreement with MP Materials, the only U.S. rare-earth producer, to stabilize domestic neodymium-praseodymium supply for critical magnets.
• Experts say new mines and processing plants typically require more than 17 years to become operational because of engineering, permitting, financing and environmental challenges.
• Despite recent export-control concessions in U.S.-China trade talks, solar and grid technologies remain exposed by an 80% import dependence on rare-earth elements.
• Allied partners in Australia, India and Vietnam are advancing mining and refining initiatives, but face similar long lead times and ecological constraints.