China dominates the RE magnet industry, producing 69% of the world’s supply. This overwhelming share makes it the backbone of global technologies-from electric vehicles to renewable energy systems-where these magnets are indispensable.

The strength behind this dominance lies in resources. China controls 49% of global rare earth reserves, giving it unmatched leverage to sustain production and influence markets for decades to come, unless meaningful reserves are identified in other geographies.

EXHIBIT: China controls key stages of rare earth metal processing