China can no longer dominate the rare earth market
A remote mountain mine in the desert of California is expected to be supported by the US Department of Defense. They believe that the metal produced by the mine is vital to the US national defense, but it is susceptible to China's dominance in the supply chain.
The Mountain Pass mine is the only source of rare earth minerals in the United States. Rare earth minerals are materials needed for electronics, lasers, magnets and other applications in weapon systems. Rare earth minerals require special processing after mining. Currently, this work can only be carried out in China because the United States does not have processing facilities.
To eliminate this dependency, the US Department of Defense is funding to help develop the processing facilities at the Mountain Pass mine. The mine is controlled by the Chicago hedge fund JHL Capital Group.