Lynas Rare Earths Has A Big Potential Problem, page-12

China dominates the world supply of rare earth oxides and magnets. Communist China controls and massively subsidizes the rare earth mining and processing industry in China. Cost is no object, control of the global market is the goal for political leverage and economic benefit long term. It also has periodically restricted supply to encourage startup mines worldwide, then flooded the market, only to swoop in and buy up the mines when prices are low. Lynas has been profitable for years now, despite the best efforts of the Chinese government and it's winning (China is Lynas's biggest market). It is the communist Chinese government that is distorting the market, forcing western governments to nurture and protect their own supply chains in their infancy.