Part 4/14:
Now, as China cuts off exports, the world is accelerating efforts to diversify supply chains. International companies and nations are rapidly building their own processing capabilities. Japanese firms like Sumitomo are expanding operations in Malaysia; Australian firms like Lenas are scaling production; the United States has even opened a new refinery in Texas; and India, with the third-largest reserves of rare earth elements globally, is working on bolstering its own mining and refining infrastructure.