High-performance magnets made from rare-earth metals are prevalent in devices like laptops and smartphones, with about 94% of these magnets produced in China as of 2024. This dominance has prompted the U.S. government to seek to establish its own production capabilities. Companies like USA Rare Earth (NASDAQ: USAR) are positioning themselves to create a domestic supply chain for magnets. If successful, early investors in these initiatives could reap significant rewards.
