Can Monazite Ore Break China's Rare-Earth Grip?

IEEE Spectrum and Foreign Policy examine how monazite ore could reduce reliance on China, which controls roughly 90% of the rare-earth oxides and metals market. Energy Fuels has spent over $200 million on monazite assets and secured a $725 million US conditional loan, while a Canadian project in Saskatchewan produced only minuscule volumes after six years and CA$100 million.

• China controls roughly 90% of the rare-earth oxides and metals market
• Energy Fuels spent $200M+ on monazite and got a $725M US loan
• Saskatchewan project spent CA$100M for minuscule output
• Monazite contains radioactive thorium and uranium, complicating processing