Battlefield rare earths: How the U.S. lost to China

At one point in history, one U.S. company monopolized the rare earths industry. Then China took over the industry. Can the U.S. bring it back?

Rare earths are critical to making, like, everything. From smart phones to electric vehicles to microwaves. They've also become a powerful political weapon for China, which controls the majority of mining and processing of rare earths.

Today, we have the story of the rise and fall of America's rare earth industry told through that single company. It's a corporate saga made for prestige television about the elements that literally, once, made prestige televisions.

This episode was produced by Emma Peaslee and edited by Marianne McCune. It was fact-checked by Sierra Juarez and engineered by Cena Loffredo and Jimmy Keeley. Alex Goldmark is Planet Money's executive producer.

Music: NPR Source Audio- "Lone Star Desert Surfer," "Set It Up," and "Collectible Kicks"