What a load of crap. 15 minutes and Google will show you that the only reason China owns the rare earth market is because they undercut everyone’s price in the 1990’s, and that there’s lots of these ores in Brazil and even Mountain Pass, California.
China was beating everybody's price by not properly disposing of the tailings ~ which is something that absolutely has to be done eventually.
"Eventually" is here, and there's a surplus on the international markets.
Frankly, every part of the planet's surface has vast amounts of "rare earths", and if times ever get tough we can dig down into the crust and find plenty more.
A couple of hour's research on the topic is quite frightening. It seems that the only reason there is a demand for rare earths is the American company with the first large and usable ore body decided to make this otherwise worthless stuff WORTHWHILE, so they hired scientists to find uses for it. Now it's in everything ~ small amounts make other metals harder, faster, longer, lower, harder, hotter, colder, shinier, more conductive, less conductive, or whatever else you want. Basically their presence in small amounts FINE TUNES more common metals to better fit modern industrial practice and products.