← Rare Earths
Critical node· Rare Earths · Critical anchor
Bayan Obo & Chinese refining
Mongolie-Intérieure, China41.77°N 109.97°E
computed criticality26/100
reading
≈90% of NdFeB magnets · monopoly on Dy/Tb separation
2024Fault line
The fracture point is not mining but chemistry: the separation of heavy lanthanides (dysprosium, terbium), essential to high-temperature magnets, exists almost only in China. Export controls since April 2025.
↘Easing2035
China held 60% of global magnet rare-earth mining in 2024 (Bayan Obo supplying about half), but the IEA projects that mining capacity outside China will meet roughly 50% of demand by 2035: the mining link is diversifying.AIE, Rare Earth Elements, 2025 ↗
Actors
China Northern Rare Earth (Baotou)
Depends on 1
MP Materials, Mountain PassRare Earths · Link↗Feeds 2
Nvidia, Santa ClaraCompute↗Chinese separation, Ganzhou & BaotouRare Earths↗Sources