Yes & no.
REEs haven't been top news for all that long. The search for alternative sources to China dates from the moment the US realised that their rivals had them by the b---s as long as China dominates the REE supply chain. This really became critical when you guys decided that "communist" (sic!) China was guilty of all the ills in the world (and then some!), about the time your man Donald hit the scene.
[Actually the way I see it the CCP led Chinese seem to be one heck of a lot better at capitalism than you guys --- thats what hurts y'all so much; being beaten at the game you yourselves invented!!! But here I go again drifting into politics and that's a no noon this thread ---- init!?!?].
So for now Kvanefjeld remains unique, but with the R&D and frenetic search for and development of REE resources currently going on, that advanageous position for GGG may not last too much longer.
Its only a matter of time --- but its like that for most all resources: in demand for a while, scarcity drives demand and with it prices into orbit, high price attracts new participants to the field, at the same time the high price & low availability fuel the search for substitutes and other alternatives (eg.electric motors that don't use permanent magnets) eventually reducing demand.
Its already happening!!!
So in my opinion there will continue to be a market for REEs for quite some time to come, yes. But gradually supply will rise, the market will become less and less tight and the price will drop --- driving marginal producers from the market. Its like the product lifecycle (you doubtless have heard of that one, no?)
Since ramping up Kvanefjeld into full production will not happen overnight, even if an exploitation permit is granted tomorrow, time is limited. Hence my comment "now or never". The project can sit on the shelf a little while gathering dust and still be picked up later ---- but not too much later.
Make hay while the sun still shines
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