Vast stockpiles of critical minerals at an industrial storage facility.
Global supply chains for critical minerals are facing significant economic security challenges, with China’s export controls on rare earth elements posing a substantial risk to downstream industries, according to a report by the International Energy Agency (IEA).
The IEA’s findings indicate that China’s dominance in the refining of these essential materials means its export policies have a profound impact on global availability and pricing. The report noted a sharp rebound in critical mineral prices during 2025 and early 2026, a trend exacerbated by supply disruptions stemming from these controls.
China accounted for the majority of refined supply growth, positioning it as a key player whose policy decisions ripple across international markets. The agency suggests that strategic stockpiles could offer a temporary buffer against such supply-side shocks, underscoring the vulnerability of the current global mineral supply infrastructure.
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