Make Me Smart Trump’s race for the world’s rare earth minerals
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Mar 26, 2025 Gracelin Baskaran, a mining economist and founding director of the Project on Critical Mineral Security at the Center for Strategic and International Studies, shares insights into the U.S. and Ukraine's negotiations over rare earth minerals. She explains why these minerals, pivotal for technology, aren’t as rare as believed and discusses the U.S.'s struggle to compete with China's production. Baskaran also highlights that recycling is only part of the solution. The conversation takes a humorous turn with musings on dreaming and Canadian travel boycotts.
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Rare Earth Availability
- Rare earth minerals aren't actually rare, they're found worldwide.
- They're called "rare" because they're difficult to extract and process economically.
China's Rare Earth Dominance
- China controls a large portion of rare earth processing, about 85-99.5%.
- This dominance allows them to influence the market and even restrict exports for political reasons.
China's Export Restriction
- In 2010, China halted rare earth exports to Japan due to a fishing dispute.
- This incident highlights the strategic importance of these minerals and the risks of relying on a single source.