Wow, downvote on a technical post
Someone really must not like facts today.
Just to provide a little evidence for my assertion that rare earths aren't actually rare (and Neodymium in particular); the natural abundance of Nd in the Earth's crust is 38 ppm (parts per million), a little less than copper (50ppm), twice that of lithium (20ppm) which is what pretty much all modern rechargable batteries are made from, and 17 times as abundant as tin, one of the main constituents of bronze, for which we named a period in human history.
So my point is this; China produces most of the world's neodymium at present for a number of reasons:
Firstly, they have decent sized deposits of Neodymium bearing minerals, but so do several other countries.
Secondly, they can produce the metal cheaply because labour costs in China are low (but rising).
Thirdly, they aren't too bothered about the environmental consequences of mining, whereas other coutries may not be so gung-ho any more.
Finally, there historically hasn't been a large demand for Neodymium so it didn't make sense for lots of people to be mining it. As the market for high-power ceramic magnets grows (as it has been for several years due to the demand for these things in hard disks), so will the supply as it becomes economical for more people to dig it out of the ground. The stuff won't run out any time soon, and if anything, the price will fall as economies of scale take off.
The arguments about the cost, mass and availability of neodymium for the permanent magnets in wind turbines are fallacious. Yes, I agree that the things are expensive but expect the price to fall as, perhaps by a significant amount. My doubts remain as to whether wind power will ever supply a significant amount of our electricity, but in fifty years time, I'm willing to bet they'll still be around (assuming we are), and coal won't.