Prices
No single exchange-settled price exists for rare earth elements. Trade settles over-the-counter against benchmarks published by independent price-reporting agencies. We do not republish those numbers — consult the publishers directly:
Asian Metal ↗
Daily benchmark quotations for rare earth elements from Asian producers (subscription).
Fastmarkets ↗
Industry benchmark prices, market reports, and price discovery for rare earth elements.
Shanghai Metals Market ↗
Real-time and historical Chinese spot prices for rare earth elements.
USGS Mineral Commodity Summaries 2026 ↗
Annual U.S. Geological Survey reference — production, reserves, prices, and trade statistics for rare earth elements.
About Rare Earth Elements
Editorial overviewWhat is rare earth elements?
Rare earths are a group of 17 metals, including the lanthanides plus yttrium, that are usually reported as rare-earth-oxide (REO) equivalent in USGS statistics. They are not especially scarce in the crust, but economic ore concentrations are limited (USGS MCS 2026 Rare Earths).
How rare earth elements are priced
As of June 2026, no major regulated futures or auction exchange has an active rare-earth elements contract. Pricing is OTC, dealer-quoted, and reported by Argus / Fastmarkets / Asian Metal / Shanghai Metals Market — none of which qualify under our inclusion rule. To be revisited when a regulated contract launches.
Where rare earth elements comes from
China was the largest rare-earths mine producer in 2025 at 270,000 tons, followed by Australia at 29,000 tons, the United States at 51,000 tons, and Burma at 22,000 tons; the world total was 390,000 tons (USGS MCS 2026 Rare Earths). The same USGS table shows the largest reserve holders as China (44 million tons), Brazil (21 million tons), Australia (6.3 million tons), and Vietnam (3.5 million tons), with world reserves above 75 million tons (USGS MCS 2026 Rare Earths). Full breakdown in the production and reserves sections.
Who produces rare earth elements
The dominant producers and state-backed groups in rare earths include China Northern Rare Earth Group and other Chinese producers, MP Materials in the United States, Lynas Rare Earths in Australia, Iluka Resources in Australia, and Shenghe Resources in China (USGS MCS 2026 Rare Earths). USGS notes that domestic U.S. production came from Mountain Pass in California, with monazite also recovered from heavy-mineral sands in the southeastern United States (USGS MCS 2026 Rare Earths). Full list of producers below.
What rare earth elements is used for
USGS says the leading global use of rare earths is magnets, while other end uses include batteries, ceramics and glass, metallurgical applications and alloys, and polishing; its domestic leading end use is catalysts (USGS MCS 2026 Rare Earths).
Key facts about rare earth elements supply
- USGS MCS 2026: world rare-earth reserves were more than 75 million tons versus 390,000 tons of 2025 mine production, implying roughly 190 years of cover (USGS MCS 2026 Rare Earths).
- USGS MCS 2026: U.S. net import reliance for rare-earth compounds and metals was 67% in 2025e, down from >95% in 2021–2022 (USGS MCS 2026 Rare Earths).
- USGS MCS 2026: limited quantities of rare earths were recovered from batteries, permanent magnets, and fluorescent lamps (USGS MCS 2026 Rare Earths).
- USGS MCS 2026: China produced 270,000 tons in 2025, or about 69% of the world total of 390,000 tons (USGS MCS 2026 Rare Earths).
- USGS MCS 2026: Australia and the United States each produced 29,000 tons and 51,000 tons respectively in 2025, making them the next-largest non-Chinese producers (USGS MCS 2026 Rare Earths).
Mine Production by Country
Source: USGS MCS 2026| Country | 2024 | 2025e | Reserves |
|---|---|---|---|
| United States | 45,500 | e51,000 | 1,900,000 |
| Australia | e29,000 | e29,000 | 6,300,000 |
| Brazil | e560 | e2,000 | 21,000,000 |
| Burma | e27,000 | e22,000 | NA |
| Canada | | | 830,000 |
| China | e270,000 | e270,000 | 44,000,000 |
| Greenland | | | 1,500,000 |
| India | e2,900 | e2,900 | NA |
| Madagascar | e1,400 | e2,700 | NA |
| Malaysia | e140 | e110 | 710,000 |
| Nigeria | e1,500 | e1,500 | NA |
| Russia | e2,600 | e2,600 | 3,800,000 |
| South Africa | | | 860,000 |
| Tanzania | | | 890,000 |
| Thailand | e2,100 | e4,800 | NA |
| Vietnam | e300 | e150 | 3,500,000 |
| Other countries | e1,000 | e550 | NA |
| World total (rounded) | 380,000 | 390,000 | >85,000,000 |
Unit: metric tons. "e" = estimated, "W" = withheld, "NA" = not available. Source: USGS Mineral Commodity Summaries 2026
Reserves by Country (Top 10)
Source: USGS MCS 2026| Country | Reserves (metric tons) |
|---|---|
| China | 44,000,000 |
| Brazil | 21,000,000 |
| Australia | 6,300,000 |
| Russia | 3,800,000 |
| Vietnam | 3,500,000 |
| United States | 1,900,000 |
| Greenland | 1,500,000 |
| Tanzania | 890,000 |
| South Africa | 860,000 |
| Canada | 830,000 |
| World Total | >85,000,000 |
Major Producers (20)
Ranked by latest disclosed REO productionCompanies ranked by most recently disclosed annual rare-earth-oxide production (kilotonnes REO). Each card links to the primary source (annual report, production report, or exchange filing). "Not disclosed" means the company does not publish metal-specific tonnage — common for private Chinese/state-owned groups and pre-production projects.
China
600111
170
kt REO
FY2024
#3China Rare Earth Resources and Technology Co., Ltd.
China
000831
7.80
kt REO
FY2024
Australia
ARU
Pre-production
Not yet in production
FY2024
Pre-production development stage for Nolans NdPr project in Northern Territory.
China
None (unlisted; subsidiaries 000831
Undisclosed Output
Not disclosed
FY2024
Controls ionic mid-heavy REE resources in southern China (Jiangxi, Guangdong, Hunan); formed 2021 via merger of state assets.
Australia
ILU
Pre-production
Not yet in production
FY2024
Eneabba refinery under construction (commissioning 2027); rare earths co-product from mineral sands ops (Mount Weld, Cataby, Jacinth-Ambrosia), no separated REO produced.
India
State-Owned
Undisclosed Output
Not disclosed
FY2024
Monazite beach sand processing at OSCOM (Odisha), Chavara (Kerala), MK (Tamil Nadu); ~11 ktpa RECl capacity at OSCOM REEP but actual undisclosed in primary sources.
Australia
LYC
Undisclosed Output
Not disclosed
FY2024
Mt Weld mine and concentration plant in Western Australia; processing in Malaysia and Kalgoorlie.
Canada
NEO
Undisclosed Output
Not disclosed
FY2024
Midstream processor of REE separation (ex-China JAMR/ZAMR, Silmet Estonia); C&O sales 7 kt (FY24, not REO-specific).
Norway
Private
Pre-production
Not yet in production
FY2024
Separation plant under construction at Herøya, Porsgrunn (demo since 2019, full-scale 0.72 kt NdPr planned H2 2024).
China
600392
Undisclosed Output
Not disclosed
FY2024
Key projects: Dechang mine (Sichuan), overseas stakes in MP Materials (USA), Ngualla (Tanzania).
Russia
MGNZ
Undisclosed Output
Not disclosed
FY2024
Processes loparite concentrate from Lovozersky GOK; ~2.7 kt REO reported in 2020 company PDF, planning separated REE production by 2028.
Belgium
SOLB
Undisclosed Output
Not disclosed
FY2025
La Rochelle facility (France) started limited rare earth separation for permanent magnets in 2025; no quantitative REO production reported.
China
600549
Undisclosed Output
Not disclosed
FY2024
Fujian rare earth resources via subsidiaries like Changting Jinlong Rare Earth.
#18China Southern Rare Earth Group Co., Ltd.
China
State-Owned
#20Guangdong Rare Earth Industry Group Co., Ltd.
China
State-Owned
Latest News
All metals news →The Fight to Break China’s Rare-Earth Dominance Moves to a New Front in Brazil - WSJ
China reaffirms Japan rare earth ban despite US request - Mining.com
China's Rare Earth Price Index Holds Above 250 as Heavy Rare Earth Markets Remain Tight - Rare Earth Exchanges
Rare-Earth Developer Aclara Seeks US Backing for Chilean Project - Bloomberg.com
Appia Mobilizes for 3,300-Meter Summer Drill Program at the Alces Lake Rare Earth Elements Property - Mining.com
Mont Royal updates Ashram rare earths economics - Mining.com.au
Aclara seeks US backing for Chilean rare earth project - Mining.com
China-ASEAN Artificial Intelligence Industry Innovation Center Established in Beijing - Rare Earth Exchanges
Frequently Asked Questions
Auto-generated from primary-source dataWhich countries produce the most rare earth elements?
The largest rare earth elements producing countries are China (e270,000 metric tons), United States (45,500 metric tons), Australia (e29,000 metric tons). Source: USGS Mineral Commodity Summaries 2026.
Which countries hold the largest rare earth elements reserves?
The countries with the largest reported rare earth elements reserves are China (44,000,000 metric tons), Brazil (21,000,000 metric tons), Australia (6,300,000 metric tons). Source: USGS Mineral Commodity Summaries 2026.
Who are the largest global producers of rare earth elements?
Among 780+ producers tracked on TSM Hub, the largest disclosed rare earth elements producers include China Northern Rare Earth (Group) High-Tech Co., Ltd. (China), MP Materials Corp. (United States), China Rare Earth Resources and Technology Co., Ltd. (China). Some operating rare earth elements producers do not publish metal-specific tonnage — such as China Rare Earth Group Co., Ltd. (China), IREL (India) Limited (India), Lynas Rare Earths Limited (Australia) — and are listed with an “Undisclosed Output” badge instead of a rank, in line with our principle of never inventing numbers absent from primary sources. Full ranking with primary-source links is available in the producers section.
What is the primary source for rare earth elements production and reserves data?
Country-level rare earth elements production and reserves figures on TSM Hub are sourced directly from the USGS Mineral Commodity Summaries 2026, the U.S. Geological Survey's authoritative annual reference. Company-level production figures come from each producer's official annual report, production report, or regulated exchange filing.