The Conference of the Parties 28 declared “transitioning away from fossil fuels.” It also called on nations to triple the amount of renewable energy installed around the world by 2030, among others. The essential needs of rare earth elements in developing renewable energy and “transitioning away from fossil fuels” pose an imperative question around how crucial REEs are in committing net-zero transition in ASEAN. Considering the dominance of China in REEs, workable strategies could be cooperation, knowledge sharing, and trade agreements with China. Moreover, recycling of REEs and developing alternatives can be possible strategies. This chapter reviews and explores financing options and strategies for ensuring the supply of rare earth elements in the ASEAN. We construct the value chain of rare earth elements outside China. Western countries formed a coalition and partnerships to de-link China from the supply chain of critical metals and rare earth elements by creating the Mineral Security Partnership. The ASEAN can consider forming its own coalition and partnerships for mineral security and joining the Mineral Security Partnership when its own coalition is successfully launched and functions smoothly.