David Wargo: The First Inning of a Rare Earth Revival

Oct 24, 2025

David Wargo, CEO of SCP Resource Finance and a rare earth expert, reveals that the U.S. is on the brink of a manufacturing renaissance driven by critical minerals. He shares insights on the importance of dysprosium and terbium, their extraction challenges, and how U.S. government support is reshaping the industry. Wargo discusses the implications of China’s market influence, the significance of new project developments, and the capital efficiency of ionic clays. He emphasizes the long-term investment potential in rare earths as demand grows.

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INSIGHT

Heavy Rares Drive The Market

Dysprosium and terbium (the heavy rare earths) are the most critical for magnets and are concentrated in Southeast Asia.
Western supply chains lack large economic ionic-clay sources for these heavies, giving China leverage.

INSIGHT

Ionic Clays Versus Monazite

Ionic clays are easy to leach on site with mild chemistry and yield high early payability.
Monazite and heavy mineral sands contain radionuclides and require specialized Class 7 handling and processing.

ADVICE

Focus On Downstream Processing

Expect most value to be in downstream separation and magnet production, not raw mixed carbonate (MREC).
Invest in or favour projects with clear processing plans and downstream capability.

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💡 As America rebuilds its industrial base, are you positioned for the next manufacturing boom? Get a free portfolio review from Wealthion’s experts and make sure your portfolio’s built to last: https://bit.ly/3KYLEjP David Wargo, CEO & Head of Investment Banking at SCP Resource Finance, joins Wealthion's Trey Reik to explain why the U.S. is entering the first inning of a new industrial era, one fueled by rare earth elements, electric vehicles, and AI-driven demand. From the revival of America’s manufacturing base to the race for critical minerals like dysprosium and terbium, Wargo outlines how projects in Utah, Brazil, and Australia could redefine global supply chains. He also explains the U.S. government’s growing role — from price guarantees for NdPr to investments in domestic processing — and why, this time, the West is serious about building industrial independence. 💡 We’re going back to building things that last. Make sure your investments do too. Invest in physical gold and silver the smart way with Hard Assets Alliance: https://www.hardassetsalliance.com/?aff=WTH 💡 If you couldn’t make it to the in-person Silver Conference in Toronto, you can still join us virtually this Saturday for the Wealthion–SCP Global Silver Conference 2025. Join our accredited investor list to attend future in-person events: https://wealthion.com/accredited Or get your virtual ticket for this Saturday’s event here: https://www.eventbrite.com/e/wealthion-scp-global-silver-virtual-conference-2025-tickets-1685583779459 💡 Get SCP Resource Finance and Trey Reik’s deep-dive Silver investing report by joining our accredited investor list here: https://www.wealthion.com/accredited Chapters:

2:17 - What Rare Earths & Critical Minerals that We Need to Pay Most Attention to? 10:32 - How China Has Cornered the Rare Earths Market 21:56 - Would the Federal Government’s Involvement Introduce Inefficiency? 27:35 - How Investors Should Approach the Rare Earths Space 33:18 - How Drilling Differs for Clays vs Hard Rock 40:33 - How the Rare Earths Space Is Set for Continual Growth 44:24 - ⭐️ Wealthion Golden Nugget: How Can People Invest in Rare Earths? 47:37 - At the Beginning of America’s Industrial Renaissance: The Opportunity Rare Earths Presents Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests do not necessarily reflect the views of Wealthion. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields. While we value and appreciate the insights shared by our esteemed guests, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion. These opinions should not replace your own due diligence or the advice of a professional financial advisor. We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so. The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. #Wealthion #Wealth #Finance #Investing #DavidWargo #RareEarths #IndustrialRevival #ManufacturingBoom #CriticalMinerals #EnergyTransition #MadeInAmerica #Commodities #EVs #AI #EconomicShift #Reindustrialization

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