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Battlefield rare earths: How the U.S. lost to China

Overview

Shownote

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Battlefield rare earths: How the U.S. lost to China

Planet Money

Apr 24
Planet Money

Planet Money

Apr 24
OverviewShownoteHighlightsTranscriptChaptersPins

Shownote

At one point in history, one U.S. company monopolized the rare earths industry. Then China took over the industry. Can the U.S. bring it back? Rare earths are critical to making, like, everything. From smart phones to electric vehicles to microwaves. They...

Highlights

This episode traces the dramatic arc of America’s rare earth industry through the story of a single mine and the company that once ruled the global market—revealing how technological advantage, strategic missteps, and geopolitical ambition reshaped the supply chains powering modern life.
00:00
China processes about 90% of the world's rare earths
09:05
Molycorp’s CEO invited Chinese visitors to learn its rare-earth processes in the 1960s
15:35
Molycorp shut down its Mountain Pass operation as it faced difficulties selling products, indicating the US's loss in the rare earths market
25:16
China flooded the global market with rare earths, crashing prices and causing Molycorp's demise
34:34
The U.S. Department of Defense took a 15% stake in MP Materials to enable rare earths refining in the U.S.

Chapters

How a Desert Uranium Hunt Uncovered the Mine That Powered Color TV
00:00
What Happened When Molycorp Gave China the Blueprint to Take Over?
06:16
How China Built a Rare Earth Empire—From Chaos to Control
12:02
When China Turned Rare Earths Into a Geopolitical Weapon—And What It Cost the U.S.
19:10
Can the U.S. Really Rebuild Its Rare Earth Industry—This Time?
28:30

Transcript

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