Rare Earth Supply Gap May Take Decades to Close

Rare earths are important materials used to make many products.

A company leader says the world will not quickly get enough new supplies.

He believes it could take decades instead of just a few years.

One reason is that companies and governments have not invested enough in new production.

China currently has a dominant position in the market.

Supplies may remain tight in the near future.

Projects in Greenland and the United States could add more supply later.

Building all the needed mines and infrastructure could cost hundreds of billions of dollars.