The New Oil? Rare Earths Spark Global Power Play

The rare earths market is experiencing a period of significant volatility, driven primarily by China's recent export restrictions.  These restrictions, which came into effect on October 1, 2024, have already led to an 8.33% increase in the prices of many critical resources.  China's Dominance and the Impact of Export Restrictions China is the world's leading producer of rare earth elements, a group of 17 metals crucial for various technologies, including electric vehicles, renewable energy systems, consumer electronics, and defense applications. …