It's not the point.
If we were dealing with a free market, not one destroyed by socialist government actions and subsidies, subsidies, subsidies and other financial supports (which in fact come either from people's taxes or from pro-inflation printing) and manipulations of financial institutions such as the FED, ECB and manipulations of eastern economies that have made the West dependent on their products or technologies (see e.g. China - lithium, REE, India - nickel). - then the market itself would, after some time, regulate the price at the level at which a given raw material would still be extracted.
Unfortunately, there is no free market anymore. The USA has been immersing itself in the gibberish of socialists since the green revolution, just like the whole of Europe, because Australia, Canada and New Zealand have already been in the hands of socialists for years. Mr. Covid showed it well!!!
Paradoxically, now, after years of dependence on China or other Eastern economies, there is nothing left to do but rob citizens of taxes or print money and subsidize or subsidize unprofitable companies such as Lynas, or want to maintain independence from others, as in the case of nickel and BHP.
Unfortunately, this is another turn towards socialism and it always ends in the same way as history shows. Inflation is just around the corner and then it's just......
The founding fathers (USA) and the creators of capitalism will be rolling in their graves!
Regards.
(20min delay)