PODCAST · business
Rare Earth Exchanges
by Dustin Olsen
We're taking you to the heart of one of the most critical and underappreciated battles shaping our modern world: the rare earth element supply chain. Discover the high-stakes dynamics that are fueling international competition, from China’s commanding grip on processing, refining, and value-added production of rare earth elements to the industries and innovations that depend on these indispensable resources. Each week, we expose the geoscience, geopolitics, and economic forces behind the West's growing reliance on China—forces that are hidden in plain sight but impossible to ignore.
Episodes
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S2 E89: Oak Ridge Cut Rare Earth Separation Stages in Half | Subho Pramanik & Marcy Lamb, ORNL
Oak Ridge National Laboratory just won a 2026 R&D 100 Award for a rare earth separation process that halves the number of stages a plant needs for the same throughput. The two ORNL chemists behind it explain why that has almost nothing to do with the molecule. Subho Pramanik is an R&D Associate...
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S2 E88: America's Entire Critical Minerals Stockpile Is Worth $600 Million | Ashley Zumwalt-Forbes
America's entire strategic minerals stockpile is worth about $600 million. Ashley Zumwalt-Forbes ran the Department of Energy's multi-billion-dollar battery and critical-minerals grant program — and she says the real bottleneck isn't geology, it's price. Ashley Zumwalt-Forbes spent years as the...
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S2 E87 - Rhodium Sells for Up to $12,000 an Ounce. He Says He Has It. | Taylor Ford
Rhodium fetches $9,500 to $12,000 an ounce, the highest price of any element on the periodic table. Taylor Ford says his Colorado claim assays at six to seven ounces of it per ton. Taylor Ford has spent nearly fifty years in exploration. He worked in Exxon's refineries, built and ran his own...
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S2 E86: A New US Rare Earth Discovery? First in 40 Years | Don Swartz, Rare Earths Americas
Rare Earths Americas CEO Don Swartz says there hasn't been a novel rare earth discovery in the US in about 40 years — and his company thinks it just found one, in the coastal sands of Georgia. Four months after taking Rare Earths Americas (NYSE American: REA) public in the first…
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S2 E85: We Import $100M in Gemstones America Could Mine Itself | Brian Busse
Brian Busse has hand-dug what may be the largest single mine in 80 years of American history — and the biggest lesson from three decades underground has nothing to do with luck. Brian Busse is a 30-year veteran miner, jewelry designer, and star of the Weather Channel's reality series Prospectors....
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S2 Bonus: The World's Highest-Grade Rare Earth Deposit Is Almost 3x Lynas's | Brazilian Rare Earths
Brazilian Rare Earths (ASX: BRE) says its Monte Alto deposit just posted grades more than twice MP Materials' and almost three times Lynas's — making it one of the highest-grade rare earth deposits ever measured. Founder, Managing Director & CEO Bernardo da Veiga returns to the show (his first...
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S2 E84: Europe Throws Away Half the Nickel It Imports | Marco Bersani, Circular Materials
Europe imports nickel from Indonesia, refines it, uses it - and then throws half of it into a landfill without it ever doing a single day of work. Marco Bersani's company gets paid to take that metal back out of the water. Marco Bersani is CEO and Co-Founder of Circular Materials, an Italian...
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S2 E83: The Oil Embargo Was a Car Crash. The Mineral War Is Cancer. | Tomasz Nadrowski, Amvest Terraden
In 1973, the oil embargo hit the West like a car crash — sudden, loud, impossible to miss. China's control of critical minerals is the opposite: it's cancer. It grew for thirty years, and most of the West only noticed once it started to hurt. Tomasz Nadrowski is a portfolio manager at Amvest...
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S2 E82: They Cracked the Rock No One Could Crack | Melissa Sanderson, American Rare Earths
For years the rule in rare earths was simple: nobody cracks allanite. American Rare Earths says it just did — at Halleck Creek, Wyoming, the largest known rare earth deposit in North America. Melissa Sanderson, director at American Rare Earths and co-chair of the Critical Minerals Institute,...
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S2 E81: Malaysia Has 16 Million Tons of Rare Earths — 70% Is Off-Limits | Tricia Yeoh
Malaysia is sitting on an estimated 16.1 million tons of rare earths, but roughly 70% of it lies inside permanent forest reserves — and the country's own fragmented governance may keep it from capitalizing on the rest. Dr. Tricia Yeoh, Director of the Asian Institute for Policy and Engagement at...
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S2 E80: Why America Only Graduates 200 Mining Engineers a Year
The conversation about America's rare earth ambitions usually centers on ore, mines, and processing capacity. Professor Aaron Noble — department head of Mining & Minerals Engineering at Virginia Tech — argues the real ceiling is people. Aaron joins Dustin and Daniel to explain why talent is the...
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S2 E79: The Bacteria Pulling Rare Earths From Catalytic Converters
Less than 1% of the world's rare earths are recycled — and a Cornell spinout thinks engineered bacteria can change that. In this episode, Dustin Olsen talks with Alexa Schmitz, CEO and co-founder of REEgen, about using bioleaching to recover rare earth elements from catalytic-converter slag, the...
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S2 E78: China Embargoes Gallium. This Montana Mine Has 6x More. — Harvey Kaye, US Critical Materials
When China restricts gallium exports, U.S. defense contractors can't rebuild the radar systems protecting thousands of miles of airspace. Harvey Kaye, Executive Chairman of US Critical Materials Corporation, explains why Sheep Creek in Montana changes that calculus. Independently validated as…
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S2 E77: By 2027, Every Defense Magnet Must Prove It Didn't Come from China — Nobody Is Ready | Jacob Clayton, Sagint
By January 1, 2027, every magnet, tantalum, and tungsten component in a U.S. defense system must be traced back to its mine — with proof it never touched China, Russia, Iran, or North Korea. According to our guest, right now 0% of supply chains can meet that standard. Jacob Clayton is the CEO and...
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S2 E76: Rethinking Rare Earth Separation — Chloe Tolbert, Idaho National Laboratory
China's conventional rare earth separation process relies on solvent extraction — a technique requiring hundreds of passes, toxic organic solvents, and decades of know-how that China has spent generations perfecting. A team at Idaho National Laboratory has a different approach. Chloe Tolbert, a...
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S2 E75: America Doesn't Have to Buy Magnets From China Anymore | Niron Magnetics
Ever wondered what the future of magnets looks like? It’s time to rethink everything we know about rare earth alternatives! Today, we dive into the groundbreaking work being done at Niron Magnetics, where iron nitride is changing the game. This isn’t just another material; it’s the first…
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S2 E74: How to Rebuild the Rare Earth Supply Chain: 5 Key Strategies from Larry Kennedy
Ever wondered how the rare earth element supply chain is like the space race? 🚀 Here’s why it matters now! China currently dominates the rare earth supply chain, controlling 90% of refining and 95% of magnets. It’s crucial to realize that the standards they set are affecting industries…
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S2 E73: How to Revolutionize Rare Earth Element Recycling: Insights from Clem Chambers
We’re diving deep into the world of rare earth elements, and it’s more than just a buzzword. These minerals are essential for our tech, from smartphones to electric vehicles. Clem Chambers, co-founder of Silex World, shares insights on the shift from acid-based to alkali processes in...
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S2 E72: How to Extract Lithium from Water: 5 Insights from Gradient's CEO
Ever wondered how we can extract lithium from wastewater? 🌊💡 Gradient, co-founded by Anurag Bajpayee, is leading the charge in sustainable lithium extraction. By transforming produced water from oil fields into battery-grade lithium, they’re not just innovating; they’re solving a critical...
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S2 E71: The Future of Battery Recycling: Insights from Leon Farrant
Ever wondered why battery recycling is more than just a trend? Let's dive into the reality behind the numbers! The battery industry is booming, but did you know that 90% of battery recycling material ends up in China? This means that while we're collecting and recycling batteries, the raw…
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S2 E70: Transforming Metal Oxides into Metals: Insights from Nitesh Shah of Metalysis
Ever thought about how metals for your tech are made? Let’s dive into the midstream process and why it matters! Did you know that the midstream process of metalization is where the real magic happens? It's not just about mining; it’s about transforming raw materials into essential components for...
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S2 E69: Understanding the Evolution and Future of Magnets in Industry
Ever wondered how a family business can thrive for over 60 years? Here’s Robert Bunting’s journey! Robert Bunting shares his incredible story of growing up in the magnetic industry and the evolution of magnets from the 1950s to today. From a small shop in Detroit to a multi-location operation…
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S2 E68: The Future of Rare Earth Elements: Insights from Jack Lifton
Can money really solve the rare earth crisis? Let’s unpack this with industry expert Jack Lifton!Jack Lifton has over 60 years in the rare earth industry, and he’s seen it all. From the Sputnik shock to the current resurgence of industrial policy, he shares insights into the challenges we face...
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S2 E67: Understanding China's Rare Earth Strategy: The Power of Information
China's biggest strategy isn't cutting supply—it's controlling the narrative. Here's how they use silence as power: In a world where information is currency, China has learned that withholding data on rare earth quotas can create uncertainty and leverage against other nations. Instead of outright...
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S2 E66: Unlocking E-Waste Potential with DEScycle
Ever wondered how a happy accident led to a breakthrough in metal recovery? Here's how DEScycle is changing the game! Fred White, co-founder of DEScycle, shares the incredible story of how his team stumbled upon a new class of chemistry at the University of Leicester. This ionic chemistry, known…
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S2 E65: Improving Rare Earth Processing with L3
Ever wondered why rare earth projects fail? Here’s a behind-the-scenes look at the real challenges! In the mining world, it’s not just about finding the minerals. It’s about understanding the entire project life cycle. From junior mining companies starting with a promising deposit, to technical...
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S2 E64: The Caldera Project: A Deep Dive into Meteoric Resources
Ever wondered how a CFO turned a project in an extinct volcano into a 1.5 billion ton opportunity? Here's the scoop! Andy Thompson, CFO of Meteoric Resources, shared insights into the Caldera project located in Brazil's mining hub of Minas Gerais. This project is unique; situated inside an…
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S2 E63: How Metasorbex is Pioneering Sustainable Rare Earth Extraction
Ever wondered how a pandemic sparked a breakthrough in rare earth extraction? 🌍💡 When COVID hit, it forced us all to rethink how we do business. That's when I realized: there’s a massive opportunity in the waste we generate. At Metasorbex, we're tackling climate change by transforming coal fly...
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S2 E62: Why Rare Earth Elements Matter: Insights into Their Critical Role
Why are rare earth elements critical? 🤔 Most people don’t realize their role in our daily tech and future! Rare earth elements are not just buzzwords; they are vital for technology and defense. From smartphones to electric vehicles, these materials are everywhere. But the supply chain is...
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S2 Bonus: Industry: Insights from David Wilcox of EM&T
Ever wonder how the rare earth supply chain really works? Here’s the insider scoop from David Wilcox of EM&T! David Wilcox shares his journey from banking to revolutionizing the rare earth materials industry. He spotted a unique opportunity a decade ago as China ramped up its control over key...
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S2 E61: How Supra's Cartridges Are Changing the Recycling Game
Highlights Supra's proprietary cartridge technology for mineral absorption Challenges in recycling rare earth elements and critical minerals The scientific foundation of Supra's technology based on supermolecular chemistry The company's current research and development phase at UT Austin Business...
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S2 E60: Revolutionizing Rare Earth Separation: A Chemical Engineer's Perspective
Highlights Rare earth separation challenges Innovative separation technologies Environmental impact and solutions Summary In this insightful interview, chemical engineer Lynn Ding shares her journey into rare earth separation, the challenges of the process, and innovative environmentally friendly...
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S2 E59: Why Rare Earths Are Not So Rare w/ Travis McLing
Highlights Geological formation of rare earth elements Differences between heavy and light rare earths Economic viability of rare earth deposits Geopolitical implications of supply chain control Innovations in extraction and processing Summary In this in-depth interview, geologist Travis McLing...
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S2 E58: Melissa Sanderson: A Journey Through Critical Minerals
HIGHLIGHTS Melissa Sanderson has a rich background in diplomacy and critical minerals. The U.S. has historically neglected its mining industry, leading to dependence on China. COVID-19 exposed vulnerabilities in global supply chains for critical minerals. The mining industry faces significant...
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S2 E57: Inside Earth AI: Cutting the Cost of Critical Mineral Discovery
HIGHLIGHTS AI can reduce mineral discovery costs from hundreds of millions to under $1 million per discovery. The global decline in new mineral discoveries is due to exhausted “low-hanging fruit,” not a lack of minerals. Earth AI achieves higher success rates by adding geological context to…
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S2 E55: Aclara Resources: Pioneering Ionic Clay Extraction
Highlights Hugh Broadhurst has a strong background in chemical engineering and lithium extraction. Aclara Resources focuses on heavy rare earths from ionic clay deposits. The company has a patented process called circular mineral harvesting. Aclara is in the final stages of obtaining permits for...
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S2 E54: Dr. Peter Tom Jones on Mining and Sustainability: A Complex Relationship
Highlights Tom Jones combines metallurgy and environmentalism in his work. The public in Europe often opposes mining despite its necessity. The Critical Raw Materials Act aims to reduce dependency on third countries. Implementation of mining permits is a significant challenge in Europe. There is…
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S2 E53: The Critical Role of Potash in Agriculture w/ Millennial Potash
Highlights Potash is primarily used as a fertilizer and is crucial for agriculture. Investment in resources requires a top-down approach, analyzing macro trends. The potash market is geographically concentrated, with major production in a few countries. Geopolitical tensions can impact potash...
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S2 E52: Impossible Metals - Innovative Robotics in Deep Sea Mining
Highlights Impossible Metals aims to deliver essential metals using innovative technology. Deep sea mining has a long history but is evolving with new tech. The company uses autonomous robots to minimize environmental impact. Polymetallic nodules are abundant on the seabed and easy to collect....
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S2 E51: The Myths and Realities of Rare Earths According to INL
Highlights The supply chain for rare earths is critical to modern technology. Rare earths are not actually rare; they are recoverable from known ores. The economic viability of rare earth mining is a significant challenge. Light and heavy rare earth elements serve different purposes in…
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S2 E50: Reflecting on 2025: A Year of Change
Highlights 2025 was a year of unprecedented activity in the rare earth sector. The U.S. is recognizing the need for industrial policy in supply chains. Recycling and innovative technologies are crucial for future supply chains. The Pentagon's ban on Chinese magnets is a significant policy shift....
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S2 E49: Revolutionizing EV Motors: The Chara Technologies Approach
HIGHLIGHTS Chara Technologies aims to create rare earth free motors for EVs. The reliance on rare earth elements poses significant supply chain risks. The global market for traction motors is approximately $35 billion. Reluctance motors offer a different method of torque generation compared to...
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S1 E48: Unlocking Malaysia's Rare Earth Potential w/ Dr. Syed Muhammad
HIGHLIGHTS Malaysia has significant reserves of rare earth elements. The country is focusing on sustainable and environmentally friendly extraction methods. Environmental concerns are now prioritized in Malaysia's mining sector. Technological advancements are crucial for the development of the RE...
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S1 E47: Tactical Resources - The US needs new rare earth supply
HIGHLIGHTS Tactical Resources focuses on American assets for domestic production. The Peak Project is strategically located in Texas, enhancing supply chain security. Clean processing is a key pillar of Tactical's operational strategy. The demand for rare earths is driven by various tech-enabled...
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S1 E46: Phoenix Tailings - Revolutionizing Rare Earth Extraction w/ Nick Myers
HIGHLIGHTS Phoenix Tailings focuses on extracting rare earths from mining waste. The company has raised $90 million to date. Nick Myers emphasizes the importance of midstream processing. The oxide to metal conversion is a key area of focus. Collaboration within the industry is crucial for…
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S1 E45: ACE Revolutionizing Battery Recycling w/ Nishchay Chadha
HIGHLIGHTS ACE Clean is focused on creating a cleaner, safer way to recycle batteries. Nishchay Chadha has nearly two decades of experience in the mining and commodities sector. Lead batteries are highly recyclable, with 60-70% coming from recycled sources. The non-smelting process uses organic...
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S1 E44: Revolutionizing Electric Motors: Enedym's Vision w/ Ali Emadi
HIGHLIGHTS Enedym aims to reduce dependence on rare earth metals. The electric motor industry is massive, with millions produced daily. Switch reluctance motors can eliminate the need for rare earth metals. Enedym has developed a comprehensive software platform for motor design. The company has...
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S1 E43: The National Security Crisis in Rare Earths With James Kennedy
HIGHLIGHTS James discovered rare earths while reviving a bankrupt mine. The U.S. lacks the capabilities to mine and refine rare earths. National security is at risk due to reliance on foreign sources. Caldera has a permitted mine with proven resources in Missouri. The company can produce...
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S1 E42: Rainbow Rare Earth: Innovative Mining Approach With George Bennett
HIGHLIGHTS George Bennett has a rich background in investment banking and mining. Rainbow Rare Earths focuses on extracting rare earths from phosphogypsum waste. High-grade projects are crucial for economic viability in rare earth mining. 95% of exploration companies never reach production....
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S1 E41: Defense Metals: Mark Tory on the Future of Rare Earth Mining
Highlights Defense Metals has a world-class light rare earth project in British Columbia. The project can concentrate from 2.4% in the ground to 50% concentrate grade. Permitting timelines are crucial and can take 2-3 years. Community engagement is essential for project success. The rare earth...
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ABOUT THIS SHOW
We're taking you to the heart of one of the most critical and underappreciated battles shaping our modern world: the rare earth element supply chain. Discover the high-stakes dynamics that are fueling international competition, from China’s commanding grip on processing, refining, and value-added production of rare earth elements to the industries and innovations that depend on these indispensable resources. Each week, we expose the geoscience, geopolitics, and economic forces behind the West's growing reliance on China—forces that are hidden in plain sight but impossible to ignore.
HOSTED BY
Dustin Olsen
CATEGORIES
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Frequently Asked Questions
How many episodes does Rare Earth Exchanges have?
Rare Earth Exchanges currently has 90 episodes available on PodParley. New episodes are automatically indexed when they're published to the podcast feed.
What is Rare Earth Exchanges about?
We're taking you to the heart of one of the most critical and underappreciated battles shaping our modern world: the rare earth element supply chain. Discover the high-stakes dynamics that are fueling international competition, from China’s commanding grip on processing, refining, and value-added...
How often does Rare Earth Exchanges release new episodes?
Rare Earth Exchanges has 90 episodes. Check the episode list to see recent publication dates and frequency.
Where can I listen to Rare Earth Exchanges?
You can listen to Rare Earth Exchanges on PodParley by clicking any episode. We provide an embedded audio player for direct listening, and you can also subscribe via your preferred podcast app using the RSS feed.
Who hosts Rare Earth Exchanges?
Rare Earth Exchanges is created and hosted by Dustin Olsen.
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