More than 90% of the world’s rare earth magnets are made in China, says James Litinsky, chairman and CEO of MP Materials. That concentration gives China significant leverage over a critical supply chain. The public-private partnership with MP Materials aims to reinvigorate the U.S. rare earths industry - and bring the supply chain back to American shores. “Free markets work, but they don't work if you have an adversary that controls a monopoly that controls the prices,” says Secretary of the Interior Doug Burgum. “To get this industry started again, we have to do some things to kick-start the private capital.” #rareearthmetals #supplychain #nationalsecurity #usmanufacturing