US and Allies Struggle to Challenge China's Rare Earths Dominance

Despite significant investments, efforts to establish alternative supply chains face economic and logistical hurdles.

China controls approximately 70% of global rare earth mineral output and over 90% of refining capacity.
The US and its allies have invested billions in subsidies and loans to develop their own rare earth supply chains, with limited success so far.
A global price slump, driven by increased supply and a weakening Chinese economy, has undermined the viability of many new projects.
Key projects in the US and Australia are experiencing delays and funding shortfalls, raising doubts about their ability to compete with Chinese firms.
Historical efforts by Japan to reduce reliance on Chinese rare earths highlight the long-term commitment and financial support required to build a sustainable industry.