United States Geological Survey: Overview of Rare Earth Elements in the Mineral Commodity Summaries

Key Chapter Title List

1. Domestic Production and Utilization
2. U.S. Key Statistics
3. Recycling
4. Import Sources (2020–2023)
5. Tariffs
6. Depletion Allowance
7. Government Stockpile
8. Events, Trends, and Issues
9. Global Mine Production and Reserves
10. Global Resources
11. Substitutes

Document Introduction

This report is based on the rare earth elements chapter of the "Mineral Commodity Summaries" published by the U.S. Geological Survey. It systematically compiles core data and global trends of the U.S. rare earth industry from 2020 to 2024. Focusing on rare earth oxide equivalents measured in metric tons, the report provides an in-depth analysis of the entire chain from domestic mining and processing to end-use consumption. It examines this within the broader context of global production, trade, and reserves, offering authoritative data support for understanding the vulnerabilities, strategic dependencies, and policy responses related to critical mineral supply chains.

The report first details the landscape of domestic rare earth production and utilization in the United States. In 2024, U.S. domestic production of rare earth mineral concentrates was estimated at 45,000 metric tons of rare earth oxide equivalent, valued at $260 million, primarily mined from bastnäsite at Mountain Pass, California. Simultaneously, the report reveals the U.S. import dependence on rare earth compounds and metals, with imports reaching $170 million in 2024. The primary end-use was catalysts, while a significant amount of rare earths was imported embedded in finished permanent magnets. Subsequently, through a series of "Key Statistics" tables, the report visually presents the annual trajectories over the past five years regarding U.S. mineral concentrate production, imports and exports of compounds and metals, apparent consumption, key product prices, and net import reliance.

On the international dimension, the report identifies the primary source countries for U.S. imports of rare earth compounds and metals from 2020 to 2023, with China accounting for as high as 70%, highlighting the high concentration of the supply chain. The report also lists tariff details for related products and depletion allowance policies domestically and abroad. Particularly noteworthy is the "Government Stockpile" section, which reveals potential acquisition plans by the United States for materials such as cerium, lanthanum, neodymium-praseodymium oxide, neodymium-iron-boron magnet blocks, and samarium-cobalt alloys in fiscal years 2024 and 2025, reflecting its move to strengthen strategic material reserves.

The "Events, Trends, and Issues" section of the report points out that global rare earth mine production is estimated to have increased to 390,000 metric tons of rare earth oxide equivalent in 2024, primarily due to increased production in China, Nigeria, and Thailand. The "Global Mine Production and Reserves" table provides production comparisons and reserve data for major resource countries. Among them, China's reserves are estimated at 44 million metric tons and production at 270,000 metric tons, both leading the world. The report concludes by noting that while rare earths are relatively abundant in the Earth's crust, economically exploitable enriched deposits are not common. North America possesses considerable identified and inferred resources. Furthermore, although substitutes exist in many application areas, their performance is typically lower.

This report is based entirely on original data and factual statements, without any extrapolation or commentary. It provides professionals in the fields of defense research, international economic analysis, resource strategy formulation, and supply chain risk assessment with a precise, timely, and highly structured foundational intelligence reference.

Key Chapter Title List

1. Domestic Production and Utilization
2. U.S. Key Statistics
3. Recycling
4. Import Sources (2020–2023)
5. Tariffs
6. Depletion Allowance
7. Government Stockpile
8. Events, Trends, and Issues
9. Global Mine Production and Reserves
10. Global Resources
11. Substitutes

Document Introduction

This report is based on the rare earth elements chapter of the "Mineral Commodity Summaries" published by the U.S. Geological Survey. It systematically compiles core data and global trends of the U.S. rare earth industry from 2020 to 2024. Focusing on rare earth oxide equivalents measured in metric tons, the report provides an in-depth analysis of the entire chain from domestic mining and processing to end-use consumption. It examines this within the broader context of global production, trade, and reserves, offering authoritative data support for understanding the vulnerabilities, strategic dependencies, and policy responses related to critical mineral supply chains.

The report first details the landscape of domestic rare earth production and utilization in the United States. In 2024, U.S. domestic production of rare earth mineral concentrates was estimated at 45,000 metric tons of rare earth oxide equivalent, valued at $260 million, primarily mined from bastnäsite at Mountain Pass, California. Simultaneously, the report reveals the U.S. import dependence on rare earth compounds and metals, with imports reaching $170 million in 2024. The primary end-use was catalysts, while a significant amount of rare earths was imported embedded in finished permanent magnets. Subsequently, through a series of "Key Statistics" tables, the report visually presents the annual trajectories over the past five years regarding U.S. mineral concentrate production, imports and exports of compounds and metals, apparent consumption, key product prices, and net import reliance.

On the international dimension, the report identifies the primary source countries for U.S. imports of rare earth compounds and metals from 2020 to 2023, with China accounting for as high as 70%, highlighting the high concentration of the supply chain. The report also lists tariff details for related products and depletion allowance policies domestically and abroad. Particularly noteworthy is the "Government Stockpile" section, which reveals potential acquisition plans by the United States for materials such as cerium, lanthanum, neodymium-praseodymium oxide, neodymium-iron-boron magnet blocks, and samarium-cobalt alloys in fiscal years 2024 and 2025, reflecting its move to strengthen strategic material reserves.

The "Events, Trends, and Issues" section of the report points out that global rare earth mine production is estimated to have increased to 390,000 metric tons of rare earth oxide equivalent in 2024, primarily due to increased production in China, Nigeria, and Thailand. The "Global Mine Production and Reserves" table provides production comparisons and reserve data for major resource countries. Among them, China's reserves are estimated at 44 million metric tons and production at 270,000 metric tons, both leading the world. The report concludes by noting that while rare earths are relatively abundant in the Earth's crust, economically exploitable enriched deposits are not common. North America possesses considerable identified and inferred resources. Furthermore, although substitutes exist in many application areas, their performance is typically lower.

This report is based entirely on original data and factual statements, without any extrapolation or commentary. It provides professionals in the fields of defense research, international economic analysis, resource strategy formulation, and supply chain risk assessment with a precise, timely, and highly structured foundational intelligence reference.