What are rare earth elements, and why are they important?
https://www.washingtonexaminer.com/news/rare-earth-elements-important
China controls about 80% of U.S. imports of rare earth metals and compounds, and some lawmakers in Washington, D.C., are hoping to break China’s grip on the global rare earth elements market in case it decides to block the export of the valuable elements into the U.S.
“China’s near monopoly of the rare-earth supply chain, including its control of the vast majority of the world’s rare-earth metallurgical manufacturing capacity, is a major threat to our national security and economic security,” Florida Sen. Marco Rubio told the Washington Examiner in a statement this week. “To truly secure our rare earth supply chains, the United States must ensure domestic metallurgical manufacturing capabilities.”
U.S. rare earth production is minimal compared to that of China but is expected to ramp up in the future. MP Materials Corp. operates the only functioning U.S. rare earth element mine, Mountain Pass in California. While it has plans to build a separation facility, it still ships the raw product to China for separation. Other future projects include a separation facility and mine in Alaska and two projects in Texas.