China is Dominating Rare Earth Metals Production 🇨🇳

What We're Showing

Rare earth metals production in kilotonnes of eight leading rare metal producing-countries from 1995 to 2023.

Rare earth metals are a set of 17 chemically similar elements integral for modern technologies, such as neodymium, used in magnets, lanthanum, used in camera lenses and batteries, and cerium, used in catalytic converters.

Figures come from the Energy Institute's Statistical Review of World Energy 2024.

Key Takeaways

• China has dominated the rare earth metals industry over the past three decades, currently accounting for over two-thirds of global production as of 2023.
• The United States has made a big comeback in rare earth metal production, particularly from 2017 onwards. U.S. production jumps from 15.4 kilotonnes in 2017 to 43 kilotonnes in 2023, indicating efforts to reduce reliance on Chinese supplies and boost domestic production.
• The world is mining more rare earth metals than ever. Production has jumped from 75.7 kilotonnes in 1995 to over 350 kilotonnes in 2023, reflecting the growing demand for these metals in high-tech applications.