The market is currently dominated by China, which produces some 60% of the world’s rare earths, processes and refines around 80%, and is the central player in the global supply chain. The world’s major economies are presently all over-dependent on Chinese imports: 80% of imports to the USA and 98% of imports to the EU come from China. The worry that supply restrictions or even stoppages could cause serious damage to economies, industries and decarbonisation plans is therefore leading many nations to?seek alternative sources. Concerns first emerged in 2010 when, for political reasons, Beijing announced its was halting exports to Japan. At the time, it was estimated that some 97% of the world’s rare earth supplies came from China. Rising (geo)political tensions between the United States and China are also fuelling misgivings and anxieties.?China has on various occasions threatened to reduce or block rare earth exports?to the USA?and this has made all importing nations eager to find new sources of production in order to reduce Chinese dominance. 2010 saw the beginning of this process.

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