The skills are being lost in lots of Industries as they are transferred abroad , weaving and the garment trade , coal mining , TV manufacturing , radios etc . Who will teach the new generation to wield a pick or work up a sweat ?
I read somewhere that when the price goes up enough it will become financially viable to start extraction in Chile and other places. Apparently, there's no absolute shortage of them, it's just they are much more concentrated in China, hence cheap to extract.A bigger and more immanent problem will be the shortage of rare earth metals.