Without magnets, the future isn’t happening. (Patreon)
Published:
2025-08-28 17:48:16
Imported:
2026-06
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China’s rare earth mining boom in the 1990s, fueled by lax regulation, led to dominance in magnet production. Backed by the state, Chinese firms partnered with US investors to acquire GM’s Magnequench and France’s Ugimag.
By 2004, US magnet plants were shut down, equipment shipped to China, and America’s domestic industry dismantled — cementing China’s global control of rare earth magnets.
The foresight the Chinese have is something to behold. I wish Western Govts had even 5 years of foresight.... the Chines have 25 years
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