Rare Earth Boss Sees ‘Long, Hard Process’ to Loosen China’s Grip

Western nations will take years to develop enough rare earth processing capacity to limit China’s dominance over the critical ingredients, according to industry veteran and former Molycorp Inc. boss Mark Smith.

Beijing, which has been curbing some critical mineral exports since 2023, tightened sales of seven rare earths in April, in response to aggressive tariffs from Washington. The squeeze caught key buyers unprepared. The Trump administration is now using Cold War-era powers to prioritize and fund rare-earth mining projects it deems strategic.