They already control the world RE market and planning to control...

They already control the world RE market and planning to control the supply of RE magnets , EV motors and eventually the EV market.
https://smallcaps.com.au/automakers-compete-market-share-electric-vehicle-future/

1. None, could try selling on the open market in 3 years time but by then all RE magnets and EV motors will probably end up being built in China anyway.

2. No plan B that I know of and not sure what you mean by changing direction, assuming you don't mean for them to start processing Au or U there would be no direction to change to if the Chinese build all the motors there.
They already control the world RE market through lower production costs, not point
pushing the prices any lower then they need to be to discourage new entrants.
http://www.nytimes.com/2010/10/20/business/global/20rare.html

Despite the name there is nothing rare about rare earths so it would not be to NTUs advantage if prices jumped up to high because the Chinese put up prices or limit export. Last time that happened Dy prices went over US$1,500/kg then :

Of course, now that China’s export quotas are a thing of the past, prices have dropped again and non-Chinese rare earth operations are once again struggling to compete. Both Lynas and MolyCorp have come close to bankruptcy in 2014 and 2015, and both companies have required extensive recapitalisation to keep operations running.

http://www.mining-technology.com/fe...poly-china-and-the-rare-earths-trade-4646712/