The global supply of Rare Earth Oxides (REO) is expected to see a Compound Annual Growth Rate (CAGR) of 4.0% per year over the period 2018-2025, as shown in the figure from TECHCET's 2020 Rare Earths Supply-Chain Report (below). "Although China is the global market leader for Rare Earth metals, they do not control all the mining in the world," commented Terry Francis, TECHCET Analyst and author of the report. "By specializing in the difficult refining and separation processes, Chinese companies have maintained a near-monopoly on rare earth metals production. They own most off-take from global mines such that they ship over 83% of the world's pure rare earth metals." TECHCET is tracking three new REE refining operations in the U.S.: • Lynas Corporation of Australia and Blue Line Corporation in Texas were awarded grants in late July 2020 by the U.S. government to develop a processing plant to extract rare earths from material sent from Malaysia.