China continues to dominate the rare earths supply chain, and recent export licenses show no real opening, amplifying uncertainty in the industry

China produces 60% of the world's rare earths and controls most of the supply chains, giving it a significant strategic advantage. Although export licenses have been approved, they are limited and do not reflect a real relaxation of restrictions. Trade tensions and lack of alternatives are seriously affecting the industry and Western companies are looking for alternative solutions. This dependence on China is becoming increasingly risky and the transition to independent sourcing is becoming urgent.