As political and military tensions grow between the US and China, prices for precious rare-earth elements (REEs) are now soaring, along with demand for skilled mining workers, Nikkei Asia reported.
China, which dominates the global rare-earth industry, is the only country that has a complete supply chain for rare earths from mining, to refining, to processing.
According to commodity research specialist Roskill, as of last year, it controlled 55% of global production capacity and 85% of refining output for REEs
https://asiatimes.com/2021/09/prices-soar-as-rare-earth-demand-grows-report/