MARKET STRUCTURE / RESEARCH BRIEF
Three different concentrations
Read the IEA and USGS figures with the appropriate year, material and stage.
Read the stage and denominator.
For 2024 the IEA puts China at 60% of global magnet rare-earth mining, 91% of refining and 94% of sintered permanent magnet production. The mining and refining estimates refer to the four magnet rare earths, and the last metric refers to sintered permanent magnets. A country share identifies geographic concentration and cannot measure a buyer’s individual exposure.
Keep the USGS series separate.
The USGS 2026 rare-earths chapter estimates rounded global 2025 mine production of 390,000 metric tonnes of REO equivalent, covering all rare earths. Its estimated 270,000 tonnes for China is on that same 2025 mining basis. The IEA figures describe a different material group and year.
Translate market context into a sourcing question.
Identify whether multiple sellers share a separating plant, logistics route or magnet manufacturer. Catalogue the intersection before counting an alternate source as independent. Then test an outage using your own baseline, stock and lead time.
Primary sources.
- IEA · Rare Earth Elements8 April 2026
The IEA estimates China’s 2024 shares at 60% of magnet rare-earth mining, 91% of refining and 94% of sintered permanent magnet production. The first two cover Nd, Pr, Dy and Tb.
- IEA · Global Critical Minerals Outlook 20262026 edition
The outlook discusses rare-earth applications in energy, advanced manufacturing and strategic technologies. Outlook cases are scenarios.
- USGS · Mineral Commodity Summaries, rare earths chapter2026 edition
USGS estimates 2025 world mine production of all rare earths at a rounded 390,000 metric tonnes of rare-earth oxide equivalent.