Rare Earth Elements
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Rare earth elements are a group of 17 metals, the 15 lanthanides plus scandium and yttrium, that are not geologically rare but are seldom found in concentrations that can be mined. They matter because neodymium, praseodymium, dysprosium and terbium go into the strongest permanent magnets. China mined 69% of the world's rare earth oxide in 2025 and refines nearly all of the heavy elements, and in April 2025 it began licensing exports of seven of them.
390,000 t
world rare earth oxide mine production in 2025, of which China 270,000 t (69%)
67%
US net import reliance for rare earth compounds and metals in 2025, up from 53% in 2024
over 99%
of refined dysprosium and terbium production in recent years was in China
Source: Adamas Intelligence
$69/kg
average 2025 price of neodymium-praseodymium oxide, against $55 in 2024
Source: USGS, citing Argus
What does this section cover?
The section runs from definitions to processing, prices and recycling. The table gives the one-line answer for each topic and where to read more.
| Question | Short answer | Read more |
|---|---|---|
| What are rare earths? | 17 chemically similar metals: lanthanum to lutetium, plus scandium and yttrium. Not scarce in the crust, but rarely concentrated in ore. | What are rare earths, the full list |
| Light or heavy? | The split is a convention, and sources draw the line at different elements. Heavy elements are scarcer and more tightly controlled. | Light vs heavy |
| Which ones matter for magnets? | Neodymium and praseodymium, with dysprosium and terbium added for heat resistance; samarium for samarium-cobalt magnets. | Magnet rare earths |
| How are they priced? | By agency assessments, not an exchange. 2025 oxide prices ranged from $1/kg for lanthanum to over $1,000/kg for terbium. | Prices and market structure |
| How are they separated? | Mixed concentrates are cracked with acid and separated element by element by solvent extraction, a slow multi-stage chemical process. | Separation and processing, separation capacity |
| Can they be recycled? | Very little is: SMM put the global rate below 1% in August 2026. Several magnet recycling plants are planned. | Rare earth recycling |
Who produces rare earths?
Production is concentrated in China, with the United States, Australia and Burma next. The USGS estimates world mine output at 390,000 t of oxide equivalent in 2025: China 270,000 t, the United States 51,000 t, Australia 29,000 t and Burma 22,000 t. The figure for Burma is estimated from China's reported import data. Mining is only the first stage. The International Energy Agency says the top rare earth refiner's share fell from over 90% in 2023 to 85% in 2025, and a 2026 European Parliament study cited by the Bloomsbury Intelligence and Security Institute puts China's share of processing and magnet fabrication capacity at about 90%.
What is China controlling?
China licensed samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium in April 2025. It extended controls to europium, holmium, erbium, thulium and ytterbium in October 2025 and then suspended those October measures for a year in November. The April licensing remains in force, and China has begun issuing general licenses to selected exporters, according to the USGS. The dated record is on the export controls page.
Who is building supply outside China?
Lynas reports itself as the only commercial producer of both light and heavy rare earth oxides outside China, with 7,260 t of NdPr in the year to June 2026 and 19 t of dysprosium and terbium in the June 2026 quarter. MP Materials produced 840 t of NdPr in the June 2026 quarter and began making magnets at its Independence plant in Texas in December 2025. The USGS says at least five companies are developing commercial-scale heavy rare earth processing but none produced sustained commercial volumes in 2025. For detail see rare earth separation capacity, magnet makers and offtake agreements.
Frequently asked questions
What are rare earth elements?
Rare earth elements are 17 chemically similar metals: the 15 lanthanides from lanthanum to lutetium plus scandium and yttrium. They are not rare in the Earth's crust, but they are seldom concentrated enough in one place to mine economically.
Which country produces the most rare earths?
China produces the most rare earths. The USGS estimates that China mined 270,000 t of the world's 390,000 t of rare earth oxide in 2025, about 69%, followed by the United States with 51,000 t, Australia with 29,000 t and Burma with 22,000 t.
Why are dysprosium and terbium so valuable?
Dysprosium and terbium are valuable because they are heavy rare earths that are scarce, used in high-performance magnets and refined almost entirely in China. The USGS reports average 2025 oxide prices of $1,010 per kilogram for terbium and $239 for dysprosium, against $69 for neodymium-praseodymium.
Has China banned rare earth exports?
China has not banned rare earth exports in general, but it requires export licenses for seven rare earth elements since April 2025. Controls on five more elements announced in October 2025 were suspended for a year in November, and the April licensing remains in force.
Sources
Read on October 12, 2026. Figures on this page come from these documents; where a number is an estimate, the source says so.
- USGS Mineral Commodity Summaries 2026: Rare earths and Rare earths (heavy)
- Adamas Intelligence: Rare Earth Magnet Market Outlook, top predictions for 2026
- Lynas Rare Earths: 2026 Annual Report and Appendix 4E (26 August 2026). Lynas figures read on 14 October 2026
- Lynas Rare Earths: Quarterly report for the period ended 30 June 2026 (22 July 2026). Read on 14 October 2026
- MP Materials: Second quarter 2026 results
- Bloomsbury Intelligence and Security Institute (30 September 2026)
- Global Mining Review: report on the IEA Global Critical Minerals Outlook 2026
- SMM: Global rare earth recycling surges (31 August 2026)
Related topics
The 17 Rare Earth Elements
Each element with its symbol, 2025 price and control status.
Magnet Rare Earths
Neodymium, praseodymium, dysprosium, terbium and samarium.
Permanent Magnets
How magnets are made and who makes them.
Why China Dominates Processing
How the concentration arose.
Rare Earth Stocks
Listed companies and what their latest filings report.
