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America Needs 48,000 Tons of Rare Earth Magnets. It Only Makes 300

Last year, America needed roughly 48,000 metric tons of the most common rare earth magnet, and domestic sources supplied just 300 tons. The rest had to come from somewhere else, and China makes more than 90% of the world's supply. To make matters worse, in January, that supply gets cut from both directions. On January 1, the Pentagon's ban on Chinese magnets in its supply chain takes effect, and…

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