FSI Scoring Rubric
The Facility Strategic Importance (FSI) Score measures how important a node would be to the Western rare earth supply chain if it reaches full operation. It is scored on a 0–100 scale, derived from six equally-weighted dimensions each scored 1–5. The score answers the question: how much does the Western chain need this asset to exist?
FSI vs REI: REI measures credibility — how real is this asset today. FSI measures strategic importance — how much the Western chain needs it. A project can score low on REI (not yet credible) but high on FSI (critically needed). Both scores together give a complete picture.
Node Risk Multiplier
How exposed is this node type to supply chain disruption?
5
HREE separation
Heavy rare earth separation — the most scarce and China-dependent node type globally.
4
LREE separation / magnet (Western, new)
Light rare earth separation or new Western magnet production. High disruption exposure.
3
Upstream mining (HREE-bearing) / established magnet
HREE-bearing upstream projects or established Asian magnet networks.
2
Upstream mining (LREE-dominant) / recycling
LREE-dominant deposits or early recycling nodes.
1
Minimal exposure
Node type faces limited supply chain disruption risk or is broadly substitutable.
Capacity Significance
What share of Western ex-China demand would this node supply at nameplate capacity?
5
>20% of Western demand
System-defining scale. Loss of this node would create an immediate, material gap.
4
10–20% of Western demand
Major contributor. Absence would require significant alternative sourcing.
3
5–10% of Western demand
Meaningful contributor. Adds material capacity to the Western chain.
2
1–5% of Western demand
Modest contribution. Useful but substitutable.
1
<1% of Western demand
Negligible scale. Pilot or early-stage capacity with no system-level impact.
Geographic Diversification
Does this node add genuine jurisdictional diversification to the Western chain?
5
Only or first-of-kind in jurisdiction
The sole node of its type in its jurisdiction or region. Removing it eliminates that geography entirely.
4
One of very few in region
Among the first in a strategically important region. High diversification value.
3
Adds meaningful diversity
Increases jurisdictional spread in a meaningful way beyond existing coverage.
2
Duplicates existing capacity
Located in a jurisdiction already well-represented. Limited diversification addition.
1
No diversification value
Adds no jurisdictional diversification. Located in an over-represented or non-Western-aligned jurisdiction.
Feedstock Security
How secure and diverse is the feedstock base for this node if built?
5
Multiple committed, diversified sources
Binding agreements with two or more independent feedstock suppliers; no single-source dependency.
4
Single strong committed source
One binding, long-term feedstock agreement with a credible supplier.
3
Identified but uncommitted
Feedstock sources identified and under negotiation; no binding commitments yet.
2
Dependent on unproven upstream
Feedstock plan relies on a project that has not yet demonstrated commercial production.
1
No credible feedstock pathway
No feedstock plan beyond conceptual or no natural feedstock security (e.g. own mine).
Stage Certainty
Probability of this node actually reaching full operation.
5
Operating or construction with financing
Already operating at commercial scale, or under construction with committed capital.
4
Permitted, financed, construction imminent
All major permits in hand, capital committed, construction start confirmed.
3
Advanced development, feasibility complete
DFS or BFS complete with credible financing pathway. Material execution risk remains.
2
Early development, concept stage
PFS or earlier. Significant permitting, financing, and engineering work remains.
1
Highly speculative
Exploration stage, unproven mineralogy, or project with fundamental unresolved questions.
Policy Backing
Level of government and allied institutional support.
5
Binding government contracts or loan guarantees
Signed procurement agreements, committed grants, or government loan guarantees in place.
4
Strong policy support — DoD, DoE, or equivalent
Binding LOI or cost-share agreement with a major allied government agency.
3
Listed on critical minerals programs
Recognised on government critical minerals lists or has received indicative government support.
2
Jurisdiction supportive but no direct backing
Operating in a supportive jurisdiction but without direct government financial commitment.
1
No policy support
No government engagement or financial commitment of any kind.
Score Tiers
80–100System-critical. The Western chain cannot function without this node class.
60–79High strategic value. Important to chain resilience; absence would be felt.
40–59Moderate strategic value. Useful capacity but substitutable.
0–39Low strategic value. Marginal or speculative contribution to Western supply chain.
FSI scores are calculated at a point in time and updated as project stage, financing, and policy backing evolve. They are not investment advice. FSI v1.0 covers separation facilities and upstream projects; magnet, metal, and recycling nodes are scored on an adapted rubric.