Yes that is very well but it is likely to be a 5 year plan just...

Yes that is very well but it is likely to be a 5 year plan just to get ore out that then has to be refined into REE oxides which are then turned into metals. China's strangle hold is actually on the refined products through to metals. Their strangle hold is less dependent on export bans than it is on pricing. They drove Mountain Pass into bankruptcy through pricing and Lynas would have gone broke too without the Japanese support.
Today, we have some early stage REE metal producers outside of China (including ASM with their REE metal plant in Korea along with one or two in USA and Canada). However, the current Chinese export restriction is on heavy REE metals such as Dysprosium and Terbium which are present in very low volumes in REE ores. Lynas is attempting to get a heavy REE oxide refinery established in Texas but it seems to be taking a long time, while so far ASM's Korean metal plant has only produced Neodymium and Dysprosium (light REE metals).
Do not under estimate the timeframe that is needed to establish both the technology and the infrastructure to produce the range of critical REEs. China got into this a couple of decades ago, or so.