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Energy is scarce though. Only Chinese smelters have dolomite based production, which is much cheaper than bruteforce electrolysis.
I sense something else going on here. The mineral dolomite is hardly scarce, and the Pigeon Process (to produce magnesium from dolomite) was invented in Canada in the 1940's.
High quality magnesite, magnesia, and dolomites are scarce, but central China is one big slab of them.
They already have the market cornered. They produce over 90% of the global supply.