New Rare-Earth Supply Falls Short of Rising Global Demand From EVs and Defense, BI Says

A wave of new rare-earth supply this decade won’t be enough to meet rising global demand, setting the stage for shortages and stronger pricing power for dominant supplier China and the handful of producers outside the Asian nation, according to a report from Bloomberg Intelligence.

Governments around the world are pushing to loosen Beijing’s dominance over rare-earth minerals needed for magnets used in vehicles, consumer electronics and defense technology. But even with billions of dollars in public funding for non-Chinese miners, supply deficits for the critical materials are still on the horizon, BI said.