Why only China makes neodymium magnets

[Mike Sulzer]

I thought this might be interesting to pickup makers:
(How GM helped China to world magnet domination - How the World Works - Salon.com)

From the article:

Johnson portrays the deal as a quid pro quo. General Motors wanted access to the domestic Chinese auto market, while China wanted to get its hands on militarily significant technology. The new owners were originally required to keep magnet production and technology in the United States for five years after the deal closed, but shortly after the term expired, the U.S. facilities were closed. Now China has an effective monopoly on the production of the raw ore from which neodymium is derived, the processing technologies that produce neodymium, and the manufacturing of neodymium magnets.

[David Schwab]

Guess I should be buying my neos from Sensmag.