Rare earth production and processing in 2023 moved on scale that is hard to reconcile, from 350,000 metric tons of mined REO to an average 12 kg of CO2 per kg of NdPr oxide. With China consuming 240,000 tons and accounting for 90% of mining, the rest of the supply chain is exposed in sharp, measurable ways. We pulled together the key consumption, waste, stockpiling, reserves, and price signals behind today’s rare earth industry picture, where even the tails and dam footprints matter.
Key Takeaways
- Global rare earth oxide consumption reached 340,000 metric tons in 2023.
- China's domestic REO consumption was 240,000 tons, 70% of global in 2023.
- United States consumed 12,000 metric tons REO for magnets and catalysts in 2023.
- Rare earth mining tailings in China generated 10 million tons waste per year 2023.
- Bayan Obo mine radioactive thorium waste exceeds 100,000 tons annually.
- Lynas Mt Weld tailings dam holds 1.5 million tons low-level radioactive waste.
- China accounted for 90% of global rare earth mining in 2023.
- United States imported 77% of its rare earth compounds from China in 2023.
- Japan's JOGMEC stockpiled 8,000 tons REO for supply security as of 2023.
- Average neodymium-praseodymium (NdPr) oxide price was $85/kg in 2023.
- Dysprosium oxide FOB China averaged $350/kg throughout 2023.
- Terbium oxide price reached $1,200/kg average in 2023 market.
- World mine production of rare earths reached 350,000 metric tons REO in 2023.
- China's rare earth mine production was 240,000 metric tons REO, 69% of global total in 2023.
- United States produced 43,000 metric tons REO from Mountain Pass mine in 2023.
In 2023 China dominated rare earth supply and demand, with global consumption 340,000 tons and production 350,000 tons.
Related reading
01 · Category
Consumption And Demand24 stats
01
Global rare earth oxide consumption reached 340,000 metric tons in 2023.
02
China's domestic REO consumption was 240,000 tons, 70% of global in 2023.
03
United States consumed 12,000 metric tons REO for magnets and catalysts in 2023.
04
Japan's rare earth consumption totaled 25,000 tons REO, mainly for electronics in 2023.
05
Europe consumed 18,000 metric tons REO for automotive and wind turbines in 2023.
06
Neodymium demand for permanent magnets was 45,000 tons REO equivalent in 2023.
07
Praseodymium demand reached 15,000 tons for EV motors globally in 2023.
08
Dysprosium consumption for high-performance magnets was 2,500 tons in 2023.
09
Terbium use in phosphors and magnets totaled 450 tons REO in 2023 worldwide.
10
Cerium demand for catalysts and polishing was 120,000 tons REO in 2023.
11
Lanthanum consumption for batteries and optics reached 55,000 tons in 2023.
12
EV sector demanded 28,000 tons NdFeB magnets (REO equiv) in 2023, up 25% YoY.
13
Wind turbines consumed 5,200 tons REO for generators in 2023 globally.
14
Consumer electronics used 15,000 tons REO in hard drives and speakers 2023.
15
Catalysts in petroleum refining consumed 40,000 tons REO in 2023.
16
Glass polishing abrasives used 30,000 tons cerium oxide in 2023.
17
Automotive catalysts demand 8,000 tons REO annually projected stable in 2023.
18
Defense applications consumed 1,200 tons REO for lasers and radar in 2023 US alone.
19
Medical MRI machines used 500 tons REO magnets in 2023 installations.
20
Projected REO demand growth to 400,000 tons by 2030 driven by EVs.
21
NdPr oxide demand forecasted at 100,000 tons by 2030 for clean tech.
22
Heavy rare earths demand to double to 10,000 tons by 2025 per Adamas.
23
Recycling supplied only 1% of REO demand, 3,000 tons in 2023.
24
Stockpiles in Japan cover 6 months of REO consumption at 12,500 tons.
Interpretation
Consumption And Demand Interpretation
In the consumption and demand picture for 2023, global rare earth oxide usage hit 340,000 metric tons with China taking 240,000 tons or 70%, while regions like the United States at 12,000 tons and Europe at 18,000 tons show a smaller but steady pull driven by magnets, catalysts, automotive, and wind turbines.
02 · Category
Environmental Impact And Sustainability22 stats
01
Rare earth mining tailings in China generated 10 million tons waste per year 2023.
02
Bayan Obo mine radioactive thorium waste exceeds 100,000 tons annually.
03
Lynas Mt Weld tailings dam holds 1.5 million tons low-level radioactive waste.
04
Global RE processing emits 12 kg CO2 per kg NdPr oxide average.
05
China's ionic clay mining acid drainage pollutes 500 km2 land yearly.
06
Mountain Pass mine water usage 1.2 million m3/year for processing.
07
RE solvent extraction uses 300 kg chemicals per ton REO produced.
08
Recycling NdFeB magnets recovers 95% REO with 80% less energy.
09
Baotou city PM2.5 levels 50% higher due to RE processing dust 2023.
10
Global RE industry water consumption averages 50 m3 per ton REO.
11
Myanmar Kachin RE mines deforested 2,000 hectares by 2023.
12
Australian RE projects aim for zero tailings discharge via dry stack.
13
Thorium in monazite tailings poses 10 mSv/year radiation risk.
14
Bioleaching RE from waste reduces acid use by 70% experimentally.
15
China's RE industry SO2 emissions controlled to 1,000 tons/year post-2020.
16
REEtec Norway zero-waste solvent extraction process piloted 2023.
17
Coal ash contains 200,000 tons recoverable REO in US annually.
18
Phytomining hyperaccumulators extract 1 kg REO/ha/year sustainably.
19
Global RE e-waste recycling rate only 1% of 17,000 tons potential 2023.
20
Direct extraction tech reduces RE processing energy 40% vs traditional.
21
Serra Verde Brazil zero-water usage RE extraction innovation 2023.
22
Life cycle GHG for RE magnets 20 kg CO2eq/kg NdFeB.
Interpretation
Environmental Impact And Sustainability Interpretation
Across the rare earth supply chain, sustainability risks are clear and escalating, with China producing about 10 million tons of mining tailings each year plus ionic clay acid drainage polluting 500 km2 annually while RE processing averages 12 kg of CO2 per kg of NdPr oxide.
03 · Category
Geopolitics And Supply Chain25 stats
01
China accounted for 90% of global rare earth mining in 2023.
02
United States imported 77% of its rare earth compounds from China in 2023.
03
Japan's JOGMEC stockpiled 8,000 tons REO for supply security as of 2023.
04
EU Critical Raw Materials Act lists 17 RE elements as critical in 2023.
05
US Defense Logistics Agency holds 4,000 tons REO strategic stockpile 2023.
06
Australia's Critical Minerals Strategy invests AUD 1B in RE processing 2023.
07
Lynas Rare Earths received USD 258M US DoD funding for Texas plant 2023.
08
MP Materials signed offtake with General Motors for 100% NdPr output 2023.
09
China's RE export license system controlled 60,000 tons shipments 2023.
10
Vietnam-Australia RE supply chain pact signed for 10,000 tons/year by 2025.
11
US Inflation Reduction Act allocates $400M for domestic RE magnet production.
12
EU funded EUR 200M for greenfield RE separation in Estonia 2023.
13
India's state monopoly IREL auctions 2,000 tons REO carbonate 2023.
14
Myanmar illicit RE exports to China estimated 30,000 tons in 2023.
15
Canada's Critical Minerals Strategy targets 10% global RE supply by 2030.
16
Quadrilateral Security Dialogue (QUAD) launched RE supply chain initiative 2023.
17
Blue Line (USA) acquired 51% Texas Mineral Resources for Round Top 2023.
18
Norway's REEtec received NOK 250M grant for separation tech 2023.
19
UK's GBP 10M investment in Sheffield RE magnet R&D facility 2023.
20
Brazil-Japan MoU for Serra Verde RE supply chain development 2023.
21
Energy Fuels-POSCO JV for US RE magnet supply chain announced 2023.
22
China's RE industry consolidated to 6 groups controlling 90% production 2023.
23
Australia-US MOU on critical minerals including RE signed 2023.
24
Greenland parliament approved Tanbreez RE mining license 2023.
25
WTO disputes on China's RE export quotas resolved impacting $1B trade 2023.
Interpretation
Geopolitics And Supply Chain Interpretation
In geopolitics and supply chain terms, the concentration of rare earth power is stark, with China producing 90% of global mining in 2023 and supplying the United States with 77% of its rare earth compounds, prompting major stockpiling moves like Japan’s 8,000 tons and the US Defense Logistics Agency’s 4,000 tons.
More related reading
04 · Category
Prices And Market Value25 stats
01
Average neodymium-praseodymium (NdPr) oxide price was $85/kg in 2023.
02
Dysprosium oxide FOB China averaged $350/kg throughout 2023.
03
Terbium oxide price reached $1,200/kg average in 2023 market.
04
Cerium oxide spot price hovered at $1.5/kg in 2023 globally.
05
Global rare earth market value exceeded $5.5 billion in 2023 revenues.
06
NdFeB sintered magnet price averaged $120/kg in China 2023.
07
Lanthanum oxide traded at $1.2/kg FOB China during 2023.
08
Praseodymium oxide price surged to $95/kg mid-2023 peak.
09
Rare earth permanent magnets market valued at $19 billion in 2023.
10
China's rare earth export quota value reached $1.2 billion in 2023.
11
Segmented NdFeB magnet prices at $150/kg for EV grade in 2023.
12
Heavy rare earth concentrate (Dy/Tb) traded at $450/kg equiv 2023.
13
Europium oxide for phosphors averaged $25/kg in 2023.
14
Gadolinium oxide price stable at $20/kg for MRI contrast 2023.
15
Yttrium oxide at $4/kg used in ceramics throughout 2023.
16
Global REO import value to US was $450 million in 2023.
17
Bonded NdFeB magnet price $90/kg average in Asia 2023.
18
Samarium oxide for SmCo magnets $15/kg in 2023.
19
Market cap of MP Materials reached $3.5 billion peak 2023.
20
Lynas Rare Earths market cap averaged AUD 5.2 billion in 2023.
21
Rare earth carbonate (REC) traded at $2.5/kg in China 2023.
22
China exported 55,000 tons REO products worth $4.8 billion in 2023.
23
Iluka Resources rare earths project valuation $1.1 billion NPV 2023.
24
China's share of global REO exports was 85% by value in 2023.
25
WTO ruling impacted China's REO export restrictions value $500M annually.
Interpretation
Prices And Market Value Interpretation
In 2023, prices across rare earth materials were notably uneven, with NdPr oxide averaging $85/kg while terbium oxide climbed to about $1,200/kg, alongside a market that generated over $5.5 billion in revenue, underscoring how wide price dispersion directly shapes overall market value.
05 · Category
Production25 stats
01
World mine production of rare earths reached 350,000 metric tons REO in 2023.
02
China's rare earth mine production was 240,000 metric tons REO, 69% of global total in 2023.
03
United States produced 43,000 metric tons REO from Mountain Pass mine in 2023.
04
Myanmar's rare earth production totaled 38,000 metric tons REO in 2023, up from prior years.
05
Australia's Lynas Rare Earths produced 16,800 metric tons REO at Mt Weld in 2023.
06
Thailand produced 13,000 metric tons REO from ion-adsorption clays in 2023 USGS data.
07
Russia's Solikamsk Magnesium Works output 2,600 metric tons REO in 2023.
08
India's Indian Rare Earths Ltd produced 2,900 metric tons REO from beach sands in 2023.
09
Brazil's Serra Verde mine started production at 5,000 metric tons REO annually in 2023.
10
MP Materials' Mountain Pass mine achieved 41,600 metric tons REO production in 2022, ramping to 43k in 2023.
11
Lynas Kalgoorlie plant separated 4,100 tons NdPr oxide in FY2023.
12
China's Shenghe Resources produced 20,000 tons REO concentrate in 2023.
13
Vietnam's Dong Pao project pilot production of 2,000 tons REO in 2023.
14
Burundi's Gakara mine produced 200 tons REO in 2023 ramp-up phase.
15
Australia's Iluka Eneabba refinery output 300 tons REO in initial 2023 operations.
16
Energy Fuels' White Mesa mill processed 1,000 tons monazite for REO in 2023.
17
China's Baotou Steel Rare-Earth produced 50,000 tons REO from Bayan Obo in 2023.
18
Northern Minerals' Browns Range pilot plant produced 50 tons dysprosium in 2023.
19
Texas Mineral Resources' Round Top feasibility targets 10,000 tons REO/year post-2025.
20
Arafura's Nolans project plans 4,400 tons NdPr/year upon startup in 2026.
21
Neo Performance Materials' Estonia plant produced 1,500 tons separated REO in 2023.
22
China's Ganzhou Rare Earth Group output 30,000 tons southern ionic clays REO 2023.
23
Madagascar's Tantalus project produced 500 tons xenotime concentrate 2023.
24
USA Rare Earth's Round Top plans 2,200 tons HREE/year by 2027.
25
Mkango Resources' Songwe Hill DFS targets 2,800 tons REO/year.
Interpretation
Production Interpretation
In 2023, global rare earth production totaled 350,000 metric tons REO, with China supplying 240,000 metric tons or 69 percent, showing that under the Production category the industry is highly concentrated despite meaningful output from countries like the United States at 43,000 metric tons and Australia at 16,800 metric tons.
06 · Category
Reserves And Resources30 stats
01
Global rare earth oxide (REO) reserves stood at 130 million metric tons as of 2023, with China holding 44 million metric tons or 34% of the total.
02
Identified rare earth resources worldwide total approximately 1.23 billion metric tons REO in 2023 estimates.
03
Vietnam possesses 22 million metric tons of rare earth reserves, ranking second globally behind China as per 2023 data.
04
Brazil's rare earth reserves are estimated at 21 million metric tons REO in the latest USGS assessment for 2023.
05
Russia holds 10 million metric tons of rare earth reserves, contributing about 7.7% to global totals in 2023.
06
India's rare earth reserves amount to 6.9 million metric tons REO according to 2023 USGS Mineral Commodity Summary.
07
Australia has 5.7 million metric tons of rare earth reserves, primarily heavy rare earth elements in 2023 data.
08
United States rare earth reserves are 1.8 million metric tons REO, mostly at Mountain Pass deposit as of 2023.
09
Greenland's Kvanefjeld project holds potential resources of 11.1 million metric tons REO at 0.423% grade.
10
Canada's Nechalacho deposit contains 94.3 million tonnes of indicated resources grading 1.8% REO in 2022 update.
11
Burundi's Gakara project has inferred resources of 22,000 tonnes REO at 8.9% TREO per 2021 report.
12
Sweden's Norra Kärr deposit features 278.5 million tonnes measured and indicated resources at 0.45% TREO.
13
Tanzania's Ngualla deposit holds 149 million tonnes probable reserves at 2.18% REO per 2023 update.
14
South Africa's Steenkampskraal mine has 780,500 tonnes indicated resource at 14.35% TREO.
15
Greenland's Kringlerne project indicated resource of 262 million tonnes at 0.50% TREO in 2022.
16
Australia's Dubbo project probable reserves of 75.1 million tonnes at 0.49% TREO per 2023.
17
Malaysia's Matano deposit estimated inferred resource of 1.2 million tonnes at 5-10% REO.
18
China's Bayan Obo mine holds over 48 million tonnes REO reserves, world's largest single deposit.
19
United States' Round Top project measured resource 1.553 billion tons at 430 ppm TREO in 2023.
20
Argentina's Tres Quebradas deposit inferred resource 2.42 billion tons at 621 ppm TREO.
21
Finland's Sokli project probable reserves 70 million tonnes at 0.75% TREO equivalent.
22
Namibia's Lofdal deposit indicated resource 25.1 million tonnes at 1.11% HREO.
23
Norway's Fensfeltet inferred resource 8.8 million tonnes at 1.12% TREO.
24
Alaska's Bokan Mountain measured resource 5.3 million tons at 0.6% TREO.
25
Western Australia's Yangibana inferred resource 25.5 million tonnes at 1.13% TREO.
26
Quebec's Strange Lake project indicated 222 million tonnes at 1.05% TREO.
27
Idaho's Lemhi Pass resource estimate 1.6 million tons at 1.5-5% REO.
28
Greenland's Tanbreez indicated resource 4.7 billion tonnes at 0.063% TREO.
29
Brazil's Pela Ema deposit 1.511 billion tonnes indicated at 1,800 ppm TREO.
30
South Australia's Harts Range inferred resource 1.02 billion tonnes at 1,060 ppm TREO.
Interpretation
Reserves And Resources Interpretation
In the 2023 reserves and resources picture, the world has 1.23 billion metric tons of identified rare earth resources, but proven reserves are just 130 million metric tons and are heavily concentrated, with China alone holding 44 million metric tons or 34 percent while Vietnam and Brazil sit at 22 million and 21 million respectively.
report visual · Comparison
Rare earth supply is concentrated, especially in China (2023)
China dominates both consumption and mining, creating supply concentration risk for global markets.
China accounted for 90% of global rare earth mining in 2023.90%
United States imported 77% of its rare earth compounds from China in 2023.
77%
China's domestic REO consumption was 240,000 tons, 70% of global in 2023.
70%
China's rare earth mine production was 240,000 metric tons REO, 69% of global total in 2023.
69%
Reference
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APA
Rachel Svensson. (2026, February 13). Rare Earth Industry Statistics. Gitnux. https://gitnux.org/rare-earth-industry-statistics
MLA
Rachel Svensson. "Rare Earth Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/rare-earth-industry-statistics.
Chicago
Rachel Svensson. 2026. "Rare Earth Industry Statistics." Gitnux. https://gitnux.org/rare-earth-industry-statistics.
Sources & references
91 datasets cited across this report · attribution is report-level