That satisfying snap when you close an AirPods case is powered by one of the most important materials in the modern world.

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Hidden inside are tiny magnets made from rare earth elements: obscure minerals that help power everything from smartphones and wind turbines to fighter jets and electric cars. They're also at the centre of one of the biggest geopolitical struggles of our time.

In this episode, Ed Conway follows the story of rare earths from an obscure Swedish town and the Manhattan Project to modern China, where decades of industrial strategy have given Beijing extraordinary control over a resource the rest of the world depends on.

Along the way, he explores the strange economics of rare earth mining, the environmental costs hidden behind modern technology, and the growing fear that global supply chains can be turned into weapons.

Do you have any thoughts about the episode or questions for Ed? Email us at [email protected] and maybe we'll feature your email in an upcoming Q&A episode!

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The Stuff Matters series producer is Jake Otajovic. The production team includes assistant producer Valeria Rocca, specialist producer Aoife Yourell, and video producer Charlie Bell. Our bonus episodes are produced by Soila Apparicio. The editor is Philly Beaumont, and the commissioning editor is Paul Stanworth. Sound design and mixing by Luke Hatten. Original music for the series composed by Klong and Ed Conway.