Turning the tide on China's dominance of the rare earth market is possible. Here's what it would take

"Rare earth minerals are so ubiquitous and critical to much of today's technology, that tonight's dinner might not have made it to the table without them. And according to USA Rare Earth CEO Barbara Humpton, for decades, the world has sat back and let China become the sole supplier of these minerals, even as the country has used its dominance in this market as a geopolitical game piece."

"it will require the support of governments, academia, and private industry. "We're gonna have to use some real strategy to actually turn the tide," she says. It may be difficult, but there are already some early signs of progress, as governments that include the U.S., Japan, and the European Union have collaborated to agree on supporting a rare earth supply chain beyond China."

Rare earth minerals are essential across modern technologies and supply chains. China currently dominates global rare earth supply and has leveraged that dominance geopolitically. Establishing domestic rare earth mining and processing capability in the U.S. is feasible but will require coordinated support from government, academia, and private industry. Strategic planning, investment, and education in magnet-making and rare earth processing are necessary. Recent cooperation among the U.S., Japan, and the EU indicates early progress toward diversifying supply beyond China. Domestic production can offer economic development opportunities and potential for cleaner extraction and environmental mitigation.

Read at Fast Company