China is unlikely to retain control of the global market for rare earths because users have become more efficient in their consumption and found alternative sources, according to a former adviser at the US Department of Defense.
Prices for rare earths were sent soaring in 2010 after China engaged in a trade war by imposing export restrictions and limiting supply. Shares in rare earth mining companies also rose sharply.
Rare earths such as lanthanum and dysprosium are essential for many advanced technologies, including weapons systems such as cruise missiles, and at the time China controlled about 97 per cent of global supply.
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