Rare earth elements are the building blocks of many technologies and are prized for their magnetic and catalytic properties. They "permeate" our lives, according to David Connelly, VP of Strategy and Corporate Affairs with Vital Metals, which owns Canada's first and only rare earth mine, located in the Northwest Territories. "Its extremely significant, given the world's reliance on one supply chain where up to 90 percent of rare earths are either mined or processed in China," Connelly told The Epoch Times.