Can America Break China’s Grip on Rare Earths?
Bloomberg 2026-10-04 12:03:47
Context: China has established a dominant position in the rare-earth industry, spanning mining, processing, and magnet manufacturing, resulting in the US relying on foreign supply chains for critical materials. MP Materials is attempting to revive domestic production, starting with its Mountain Pass mine in California and expanding into refining. The US faces significant challenges in catching up with China's lead.
Key Facts
- China has spent roughly 25 years building its dominant position in rare-earth mining, processing, and magnet manufacturing.
- The US is dependent on foreign supply chains for rare-earth materials essential to various industries, including vehicles, wind turbines, electronics, and defense systems.
- MP Materials is trying to rebuild the rare-earth supply chain domestically, starting with its Mountain Pass mine in California and moving into refining.