Although the country produces over 90% of rare-earth minerals today, it controls less than half of the global resource base. Restricted supply and higher prices have already spurred the development of big mines in Australia and in America, where a large Californian mine called Mountain Pass reopened late last year. In time, this fresh supply will take market power away from China. For the Chinese, rare earths are simply not rare enough.
China and rare earths: Of metals and market forces | The Economist
