As global power dynamics shift around critical raw materials, Canada is being increasingly viewed as a potential linchpin in the effort to rewire the world’s supply chains for rare earth elements (REEs). Following China’s recent export restrictions on key rare earths and high-performance magnets—materials essential to defense systems, electric vehicles, and next-gen electronics—the West is facing a reckoning. This pivot point has opened a geopolitical and economic window for Canada, but capitalizing on it will require overcoming structural, technical, and strategic challenges.