TL; DR; it will take many years.
Swedish producer is trying to to accelerate the process of extracting the elements vital for hi-tech products. The LKAB iron ore mine at Kiruna in Sweden is close to one of Europe’s largest-known deposits of rare earths (..).
The 17 rare earth elements – all found in Kiruna – include neodymium and praseodymium, critical materials for the powerful permanent magnets needed for everything from electric cars to household appliances and military jets. From mine to refined end production could take 10 to 15 years, say experts.(..)
“I think people often miss the point. They say ‘why don’t we just produce rare earths in Europe?’. But you have to have the entire supply chain to do that,” says Nigel Steward, a professor at Imperial College London, a materials scientist and a former executive in the US mining industry."(..)
The experience in Kiruna shows just how challenging it is to reduce the EU’s dependency on China, which is now the core supplier of rare earth magnets and willing to choke supplies, as it did last year, if politically desirable.(..)
State-owned LKAB is now trying to accelerate the process of mining, extraction, and separation of the crumbs from the ore, to help the EU de-risk as quickly as possible.(..)
"I’ve been talking in Brussels the past two or three years about the huge disadvantages we created in the 1970s and the 1980s when we closed the mining industry and started importing metals from South America, Africa, Australia,” he says.(..)
Asked why it has taken the EU so long to wake up to the dangers of dependency on China’s rare earth supply, he is blunt: “Politicians will never be more courageous than the voters.”
I must agree with you on this one. And quite relevant to these times.