$BTC China is an important supplier of rare earths:

In 2024, China will mine approximately 270,000 tons of rare earths, accounting for 69% of global production.

According to data from the U.S. Geological Survey, China's rare earth production has TRIPLED since 2014.

Meanwhile, the United States and Myanmar produce 45,000 and 31,000 tons, respectively, accounting for 11% and 8% of global production.

Importantly, China also accounts for about 90% of the world's total refining capacity, according to IEA data.

This means that China is a key location for converting mined rare earths into usable materials.

The United States needs China's rare earths.