Why rare earths are the new oil

Rare earth metals are critical for the energy transition, meaning that demand is likely to grow significantly over the next 25 years until 2050. But the supply of these strategic metals is uncertain, as they are caught in a geopolitical great game between China and the west. Rare earth mining companies look likely to benefit from long-term secular growth – they are improving their operating efficiency and trade at a discount to previous years’ valuations.