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dyor: Rare Earth Metals: Heavy vs. Light | INN (investingnews.com)

The number one revenue generator for Lynas are the LREEs NdPr.
Almost all that NdPr goes into making permanent magnets typically labelled as NdFeB aka neomagnets.
Almost all these magnets end up in motors and generators (basically the same thing).

Wind turbine generators of the PMDD sort (used for offshore installations) use basic NdFeB; they are air-cooled.

However, any NdFeB magnets used in any motors used for power tools, e-bikes, e-scooters, e-cycles, e-rickshaws, BEVs, PHEVs, e-buses, e-trucks, and so on, MUST be capable of handling the temperatures encountered. "Simple" NdFeB magnets cannot handle the heat (tops 80C).

To handle heat and allow use in high tech high power high value applications such as those listed, magnet-makers must add ~1-10% dysprosium (or equivalents) to the NdFeB magent alloy. For that reason, dysprosium is the most valuable of the HREEs.

Essentially all HRE separation will be supported by the demand for dysprosium equivalents (Dy, Tb, Ho all have been reported to help NdFeB handle the heat).

Bottom Line: The REE industry has almost nothing to do with "weapons" which require exceedingly minor amounts in the grand scheme of things (albeit for an extremely important application); most certainly the free world should have its own secured supplies sooner rather than later especially as the polarization of the world continues to increase.