Joining me now is Josh Ballard. He's CEO of USA Rare Earth. They're traded on NASDA. They have a website as well on NASDAQ. They're

symbol as USAR on the web. You can find them at USAAR.com. If I got that correct, if I didn't, Josh,

you can correct me. And I want to talk to him because he's been on the forefront of this rare

earth issue. And that is really kind of at the forefront of what is going on in this trade

dispute with China. We hold all the cards when it comes to

tariffs and who's going to buy what from who, but there are other ways that they can strike

back, and one of the things that they have done is to use their position of dominance in

rare earth minerals to essentially shut down supply of critical things. So thank you so much

for joining us, Josh. We've got a lot of questions about rare So thank you so much for joining us, Josh.

We've got a lot of questions about rare earth minerals. Thank you for joining us.

Yeah, thank you for having me. I appreciate it. First of all, tell us a little bit about what

rare earth minerals are. Why do we call them rare? Rare earth minerals, for the most part, actually

aren't rare. They are pretty abundant, but what's difficult about them is you don't have a vein of them in the ground.

So when you go get coal, you have a vein of coal.

You can dig it straight out.

Rare earths are dispersed throughout the rock.

So there's a lot of science that goes into pulling it out of the rock so that you can then separate out the minerals and the ores that can be used into metals and the magnets and so forth.

So it's hard.

Some are super rare, some are not so rare.

China, by the way, focused on the super rare ones, you know, to your point that they could really control.

But they're critical to modern technology, and they're critical to, you know, really how we live today in surprising ways.

Yeah, especially because we see a lot of these, you know,

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