In this brief article, we’ll learn about the 5 largest rare earth metal producing countries. If you want an insider scoop on the developments and financial growth in rare earth mining, read Rare Earth Metals Production By Country: Top 10 Countries.
5. Thailand
Rare Earth Metal Mine Production in 2022: 7,100 metric tons
When it comes to rare earth metals production by country, Thailand is among the top five. Its reported production volume of rare earth metals was 7,100 metric tons in 2022. Notably, Thailand’s rare earth metals output reached 8,200 metric tons in 2021, more than double the production in 2020, which stood at 3,600 metric tons. However, following this unprecedented increase, the production experienced a decrease, sliding to 7,100 metric tons in 2022. Such a shift might be indicative of a level of volatility in Thailand’s rare earth metals production over the observed period.
4. Burma
Rare Earth Metal Mine Production in 2022: 12,000 metric tons
Burma’s mine output of rare earth metals was recorded to be 12,000 metric tons in 2022. The country’s production volumes primarily consist of dysprosium and terbium, with minor outputs of scandium and yttrium. Burma’s production yield indicates its potential to offer diversified supply sources, mitigating the risks associated with the concentration of these critical resources. Moreover, Burma is amongst the largest exporters of rare earth metals worldwide. Its export of REEs reached $803 million in 2021, despite the country’s complex socio-political landscape and developing mining infrastructure.
3. Australia
Rare Earth Metal Mine Production in 2022: 18,000 metric tons
Australia is the third-largest producer of rare earth metals, only behind the US and China. The country mined 18,000 metric tons of rare earth metals in 2022, which is a slight drop from the country’s yield of 24,000 metric tons in 2021. This generous rare earth metals output indicates the country’s immense rare earth potential, as its reserves are estimated to be 4.2 million metric tons. Australia’s most prominent rare earth metals mine is the Mount Weld Mine, which has state-of-the-art infrastructure to extract REEs from other minerals. Also, despite having the world’s sixth largest reserves of rare earth metals, Australia’s mining efforts in this sector remain relatively curtailed.
2. United States
Rare Earth Metal Mine Production in 2022: 43,000 metric tons
The United States saw mine production of 43,000 metric tons of rare earth metals in 2022. Also, the current estimates suggest that the country holds approximately 2.3 million metric tons of reserves of rare earth metals. This substantial reserve capacity indicates the potential for continued and amplified domestic production in the future. Currently, the largest rare earth metals mine in the US is the Mountain Pass Mine in southeastern California, which is an open-pit mine with substantial mining capacity.
1. China
Rare Earth Metal Mine Production in 2022: 0.21 million metric tons
China is the largest rare earth metals producing country that accounts for over 70% of of rare earth metals’ global production. The country’s mine yield of rare earth metals was recorded at 0.21 metric tons in 2022. China also has the largest deposits of rare earth metals, amounting to 44 million metric tons. The main REEs deposit in China is the Bayan Obo Mining District in Inner Mongolia, which is also the world’s largest known REEs deposit.
Let Insider Monkey be your trusted guide in the freshest insights in financial and investment news. We curate the latest updates, directly connecting you to the pulse of the financial world. So subscribe to our newsletter and unlock the door to the world of insightful analysis. Know more about important structural metals by reading 15 Largest Steel Producing Countries in the World and 12 Biggest Iron Ore Producers in the World.
Hedge Fund Resource Center