The US government has identified 50 minerals as “critical,” deeming them to be essential to the national interest but to have a vulnerable supply chain. Global competition to control the supply chains of these minerals—which are finite and dispersed around the world—has intensified as nations seek to gain an edge in today’s technology-driven world.
Rare earth elements are some of the most sought-after minerals because their unique atomic structures give rise to various electrical, luminescent, and magnetic properties. While abundant throughout Earth’s crust, rare earths are mixed in ores at low concentrations and require extraction and processing. As of 2025, China accounts for about 70% of global rare earth ore extraction and 90% of rare earth ore processing.