Core Insights - The article discusses "new-era gold," commonly referred to as "rare earths," highlighting its significance in modern technologies and the global market size of approximately $15 billion annually [1] - China currently dominates the rare earth market, controlling around 90% of refined rare earth production, which raises concerns about supply chain dependencies [1] Industry Overview - The global rare earth market is valued at about $15 billion, indicating its critical role in supporting various technological advancements [1] - Rare earth elements are essential for numerous applications, including electronics, renewable energy, and defense technologies, underscoring their importance in the modern economy [1] Market Dynamics - China's control of approximately 90% of the refined rare earth market presents both opportunities and risks for global supply chains, as reliance on a single country for these critical materials can lead to vulnerabilities [1]