The Sobering Truth About Rare Earths
The Lynas Advanced Material Plant in Malaysia is the world's largest rare earth refinery, isolating 15 separate rare earth compounds crucial for various industries. China's control over 90% of the rare earth minerals market has raised concerns among U.S. policymakers, prompting efforts to diversify supply chains.
The Lynas Advanced Material Plant, located on Malaysia's east coast, is the world's largest rare earth refinery. It employs 850 engineers and chemists to isolate 15 rare earth compounds, including dysprosium and terbium. China's dominance over the rare earth minerals market has caused disruptions in industries worldwide, with export restrictions last April halting production at factories in Japan and the U.S. U.S. policymakers are working to reduce dependency on China, with Secretary of State Marco Rubio hosting a Critical Minerals Ministerial in Washington D.C. to develop alternative supply chains. The meeting led to the formation of the Forum on Resource Geostrategic Engagement to diversify critical minerals alongside allies. Lynas has become a key player in Washington's efforts to break free from Chinese dependency, with its value ballooning to $15 billion.
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