1. China
Undeniably, China is the world giant when it comes to the production of rare earth metals. As of 2024, China is responsible for a staggering 70% of global rare earth production. The nation has managed to maintain its dominance due to extensive deposits in areas like Inner Mongolia and Sichuan province. Notably, China’s most prodigious reserves are found at the Bayan Obo mining district, believed to hold an estimated 70% of the world’s rare earth deposits.
2. Australia
Featuring second on the list is Australia. This resource-rich country has drastically increased its output in recent years. The most significant mine in Australia is the Mount Weld pit in Western Australia, owned by Lynas Rare Earths Ltd. As of 2024, Australia is considered the second-largest producer accounting for roughly 10% to 12% of the global production.
3. United States
Despite having fallen behind China and Australia, the United States ranks third in global rare earth mining. The Mountain Pass mine in California is one of the largest rare earth mines in the world. With potential deposits in Alaska and Wyoming promising substantial yield, the U.S banks on lessening its reliance on foreign imports.
4. Russia
Russia has been a steady producer of these essential minerals over the years. With estimated reserves of 12 million metric tons, Russia secures itself the fourth spot. Their main mining company, Rostec, aiming to increase annual production to ensure security of supply and reduce dependence on imports.
5. Vietnam
Vietnam has emerged as one of the fastest-growing producers of rare earth metals. The country’s rich deposits, mainly in the Northwest region, contribute to its standing as the fifth-largest producer globally. The country has been working strategically to increase its mining and processing capabilities.
6. Brazil
Brazil’s vast geography and diverse geology make it a significant player in the rare earth metals scene. The Araxá mine in Minas Gerais is one of the country’s main sources of these metals. However, although having the world’s fifth-largest rare earth reserves, Brazil is the sixth-largest producer.
7. India
India, with its significant reserves mainly in the eastern and central regions, is the seventh-largest producer. The country is focusing on increasing investments in the mining sector and encouraging private participation. The Indian government has identified this sector as of strategic importance to the economy.
8. Malaysia
Despite not having substantial natural reserves, Malaysia is an integral part of the global rare earth supply chain through processing. After China, it is one of the world’s leading rare earth elements refining hubs, thanks to the Lynas Advanced Materials Plant (LAMP).
9. Thailand
Thailand has been progressively improving its position in the global rare earth industry. In recent years, it has increased its reliance on its mineral-rich regions to boost production and reduce dependence on imports.
10. Canada
Canada holds significant untapped potential for rare earth metal production. The vast northern nation’s potential primarily lies in its underexplored areas, where vast reserves of rare earth metals remain largely untouched.
11. South Africa
Lastly, South Africa is increasing its global presence in the production of rare earth metals. Despite political and logistical challenges, the country is steadily ramping up rare earth mining owing to its rich reserves. The Steenkampskraal mine in Western Cape province is known to have some of the highest concentrations of rare-earth elements worldwide.
In the global fight for control of the rare earth industry, these eleven countries are leading the way. Their geological wealth and strategic investments in mining and processing these vital elements position them at the forefront of this critical sector. As technology evolves, the scramble for these finite resources is set to intensify, creating fascinating dynamics in international geopolitics.
