To conclude, the supply risk issue of Nd and Dy is found to be a bottleneck issue of opening new mines at an accelerated rate to satisfy the future high demand in the period from now until 2050. Our results indicate that the potential mining projects outside China do not have high content of Dy as China possess around 70% of the currently known Dy reserves. This suggests that China is very likely to play its dominant role for Dy primary supply in the short-to-medium term future until recycling provides significant secondary supply to reduce the contribution of mining in order to meet the future demand.