The detail
Rare earths in depth
Supply
Mine output was about 390 kt REO in 2025: China about 270 kt (about 69%), the US 51 kt, Australia 29 kt and Myanmar 22 kt. Reserves are about 85 Mt REO, half in China and a quarter in Brazil. IEA puts the top three countries at 94% of refining, and China makes most of the world's magnets.
Demand
IEA demand for magnet rare earths was about 93 kt in 2025, rising to about 116 kt in 2030 and 140 kt in 2040 in Stated Policies, driven by electric vehicles, wind and industrial motors.
Policy and criticality
Critical everywhere it is assessed; the EU 2023 study gave rare earths the highest supply risk of any material. China added export licensing for seven medium and heavy rare earths in April 2025 and broader controls in October 2025; parts of the October measures are suspended until November 2026.
What to watch
- Status of China's suspended October 2025 controls in November 2026.
- Western separation and magnet plant start-ups.
- Heavy rare earth supply from Myanmar.
From the USGS Mineral Commodity Summaries
US production and use
Rare earths were mined and processed domestically in 2025. An estimated 51,000 tons of REO in mineral concentrates was produced and was valued at $240 million. Bastnaesite was mined as a primary product in Mountain Pass, CA. Monazite was produced from heavy-mineral-sand concentrates in the southeastern United States. Rare-earth compounds were also produced in the Western United States. U.S. imports of rare-earth compounds and metals increased by 169% in 2025; however, the estimated value of these imports decreased to $165 million from $168 million in 2024, reflecting a shift toward lower-value imported products. The estimated leading domestic end use of rare earths was catalysts, whereas the estimated leading global use was magnets. Other end uses included batteries, ceramics and glass, metallurgical applications and alloys, and polishing. A significant amount of imported rare earths was embedded in finished goods.
Events, trends and issues
In April 2025, China tightened its export controls on rare-earth elements, adding specific controls on alloys, compounds, metals, and oxides of samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium. In October, China expanded its rare-earths export controls to include europium, holmium, erbium, thulium, and ytterbium. In November, China suspended the October export controls for 1 year. The April export controls remained in effect, although China began to issue general export licenses to selected exporters.
Substitutes
Substitutes are available for many applications but generally are less effective.
Recycling
Limited quantities of rare earths were recovered from batteries, permanent magnets, and fluorescent lamps.
World resources
Rare earths are relatively abundant in the Earth’s crust, but minable concentrations are less common than for most other mineral commodities. In North America, measured and indicated resources of rare earths were estimated to include 3.6 million tons in the United States and more than 14 million tons in Canada.
