America Didn't Lose Its Rare Earth Industry. It Sold It

The US did not 'lose' its rare earth industry but instead sold it to China, primarily through the auction of the Mountain Pass mine to the Chinese-owned company MP Materials. The Mountain Pass mine is the only rare earth processing facility in the US. The mine was initially owned by Molycorp, but the company filed for bankruptcy in 2015 and was acquired by MP Materials in 2017. MP Materials announced that it will be investing $1 billion to upgrade the mine and increase production, which is expected to make the US a significant player in the global rare earth market. The article criticizes the US government for not doing enough to support the US rare earth industry and for not taking advantage of the opportunity to develop the industry.