The Cutthroat Battle to Become America's Rare-Earth Champion
The article examines the intense competition among U.S. companies vying to become the nation's leading producer of rare-earth elements, which are critical for defense and green technologies. It highlights the strategic push to reduce dependence on Chinese supply chains and the complex challenges involved in building a domestic rare-earth industry.
Background
- Rare-earth elements (REEs) are 17 metals essential for EVs, wind turbines, military tech, and smartphones. The hard part isn't mining them — it's processing them into usable materials, a step China dominates (over 90% of global supply).
- The U.S. had a rare-earth industry until the 1990s, but it collapsed under Chinese price pressure. Today, the only U.S. rare-earth mine (Mountain Pass, CA) sends its ore to China for final processing.
- The article covers the race among several companies — MP Materials, Lynas Rare Earths, Energy Fuels, USA Rare Earth — to become America's "champion" and build a full domestic supply chain, fueled by billions in government grants and geopolitical urgency to reduce dependence on China.