Nuclear - fission and then fusion are the only way out.
Otherwise you are right the really big problem right now is that we don't have a suitable replacement for oil that wont also change society in ways nobody is willing to deal with yet.
Fission is not going to be small and safe enough to really replace oil, fusion does not yet exists in the real world, so were probably stuck with renewable untransportable energy infrastructure for any future growth.
Electric mountain is pumped hydro electric storage. It can store 9 gigwatt hours of electricity.
The UKs total energy consumption is 1650 Terawatt hours. Let’s say you need to store 4 days worth of energy to account for any shocks. That’s 22 terawatt hours of energy.
You’d need to build 2500 electric mountains to store just 4 days of UK energy consumption. And 4 days is a dangerously low buffer for when things go wrong.
None of those things are "rare earth minerals" by almost any definition and are relatively plentiful. Definitely none of them are in the zone on the Periodic table specifically named the "rare earth metals" either (though those are often important in magnetic machines like MRI scanners, so maybe you are confused about what part of the electromagnetic field batteries are typically working with?).
https://youtu.be/DU6gWZav2T8 (46 minutes into this video. Whole video is an eye opener)