In rare earth supply chains, this means that planned refining capacity reaches only around two-thirds of expected mine output by 2035, while planned magnet production amounts to just one-third. “Yet there are encouraging signs of progress – including in rare earth supply chains – where we see targeted policies and investment support starting to make a difference. Dr Birol said: “The IEA will continue to support governments as they look to bolster the security of critical mineral supplies. The latest data and analysis, included in our new Global Critical Minerals Outlook, are an important part of this effort. Our Critical Minerals Security Programme is also playing a key role in enhancing emergency preparedness and accelerating supply chain diversification globally.”