At a major Toronto rare earth conference, industry leaders warned that Western supply chains remain years behind China, with heavy rare earths like dysprosium and terbium in critical shortage. The focus has shifted from mining to full 'mine-to-OEM' integration, and MP Materials was highlighted as the top Western pick.
MP Materials is the best-positioned Western rare earth play, but supply chain bottlenecks and heavy rare earth shortages will keep the market tight for years, offering a long runway for growth.
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