China produces 94% of sintered NdFeB magnets used in EV motors and wind turbines; the race to break that monopoly reshapes trade, defence and industrial policy worldwide.
Australian rare earth mining and processing company, the world's largest producer outside China, supplying neodymium-praseodymium and heavy rare earths to Japan, Europe and the United States.
full dossier ›The strongest permanent magnets in commercial use, neodymium-iron-boron (NdFeB) magnets drive EV motors and wind turbines globally, with China producing 94% of world supply.
The midstream processing stage that converts ore concentrates into usable materials, with China controlling roughly 90% of global rare earth separation and battery-mineral refining.
CEO Amanda Lacaze says Seadrift construction may not proceed without DoD offtake; Kuantan plant secured a 10-year licence but must eliminate radioactive waste by 2031; Malaysian DoE blocked the planned capacity expansion
The DoD's $110/kg NdPr floor with MP Materials became a template; Washington negotiated allied floors with Mexico, the EU and Japan by February 2026; the One Big Beautiful Bill's Section 20004 appropriated $2bn for a Strategic Resilience Reserve; the G7 Évian declaration committed $64bn across 195 projects