Rare earth magnets are critical enablers of high-performance electric motors used in electric vehicles, wind turbines, robotics, and advanced defense systems. Their unique properties make them indispensable across both energy transition and national security applications. As demand accelerates, access to secure and reliable magnet supply is becoming a strategic priority for governments and industry alike.
At the same time, the rare earth value chain remains highly concentrated, with China dominating refining, separation, and magnet manufacturing. This concentration is driving geopolitical risk, amplified by trade tensions, export controls, and growing resource nationalism. In response, the US and its allies are actively pursuing downstream integration strategies such as investing in domestic processing, M&A activity, and securing offtake agreements to reduce dependency and rebuild supply chain resilience.
These shifts are reshaping the industry outlook. The focus is moving beyond upstream resource development toward full value chain integration, with greater emphasis on magnet production as the key value and supply security capture point. However, scaling ex-China capacity remains challenging, constrained by fragmented demand, technical complexity, and uncertain project economics. As a result, new models including strategic partnerships, demand aggregation, and policy support will be critical to unlocking investment and establishing diverse supply chains.
Join our upcoming webinar featuring experts from S&P Global Energy’s Energy Transition & Critical Minerals Consulting team, who will share their perspectives on market developments shaping the sector today.
What We’ll Explore:
• How rare earth magnets have become critical to both energy transition and national security objectives
• The risks associated with concentrated global supply chains
• What current investments, partnerships, and policy initiatives may mean for future market development
FREE ONLINE WEBINAR STARTS IN
Meet the Speakers
Guilherme Goncalves
Associate Director, Energy Transition & Critical Minerals Consulting
Guilherme is an Associate Director within the S&P Global Strategy Consulting Group with a focus on Energy Transition relevant topics. Mr. Gonçalves has more than 8 years of experience supporting energy related consulting engagements, mostly focused on the Oil, Gas and Power sectors, by modelling and analyzing cost competitiveness, market fundamentals, sectorial regulatory framework and developing scenarios.
Before joining the consulting team, Mr. Gonçalves was focused on Latin American natural gas markets and scenario development. He contributed to regulatory analysis, natural gas supply/demand and price modeling, with particular attention to the midstream and downstream sectors.
Mr. Gonçalves holds an energy planning master’s degree from Rio de Janeiro Federal University and a bachelor’s degree in electrical engineering from the Pontifical Catholic University of Rio de Janeiro. Is fluent in Portuguese, English and Spanish.
Before joining the consulting team, Mr. Gonçalves was focused on Latin American natural gas markets and scenario development. He contributed to regulatory analysis, natural gas supply/demand and price modeling, with particular attention to the midstream and downstream sectors.
Mr. Gonçalves holds an energy planning master’s degree from Rio de Janeiro Federal University and a bachelor’s degree in electrical engineering from the Pontifical Catholic University of Rio de Janeiro. Is fluent in Portuguese, English and Spanish.
Ross Embleton
Principal Consultant, Energy Transition & Critical Minerals Consulting
Ross is a Principal Consultant in the Energy Transition and Critical Minerals consulting practice for S&P Global Energy, based in London. He has more than five years of experience within the metals and mining industry, focusing on supply-side analysis and production cost modelling within critical minerals, battery raw materials and precious metals. Ross has collaborated on several consulting projects in the energy transition space, in particular projects related to the rare earths industry. He managed engagements with mining companies, governments, banks and financial institutions.
Prior to joining S&P Global, Ross led Wood Mackenzie’s rare earths market service and was responsible for supply, demand and pricing analysis within research reports. He has also worked as a mine supply analyst focusing on precious metal markets.
Prior to joining S&P Global, Ross led Wood Mackenzie’s rare earths market service and was responsible for supply, demand and pricing analysis within research reports. He has also worked as a mine supply analyst focusing on precious metal markets.
Cecilia Alberti
Consultant, Energy Transition & Critical Minerals Consulting
Cecilia Alberti is a Consultant in the Critical Minerals, Energy Transition & Power Consulting team at S&P Global. With 7 years of experience in project management and consulting, she specializes in the critical minerals landscape.
Prior to joining S&P, Cecilia was a project manager for projects across Latin America, including Uruguay, Argentina, Brazil, and Mexico. She also worked as a researcher and teaching assistant at Rice University, in Houston, Texas.
Cecilia holds a master’s degree in engineering management and leadership from Rice University, with concentrations in Energy Transition and Data Science, as well as a bachelor’s degree in mechanical engineering. She is fluent in both English and Spanish.
Prior to joining S&P, Cecilia was a project manager for projects across Latin America, including Uruguay, Argentina, Brazil, and Mexico. She also worked as a researcher and teaching assistant at Rice University, in Houston, Texas.
Cecilia holds a master’s degree in engineering management and leadership from Rice University, with concentrations in Energy Transition and Data Science, as well as a bachelor’s degree in mechanical engineering. She is fluent in both English and Spanish.