Which Country Controls the World's Largest Rare Earth Mineral Reserves?

The race for rare earth minerals is reshaping global supply chains and geopolitics. With clean energy transitions and advanced technology driving demand, securing access to these critical materials has become a strategic imperative. But here’s the reality: having the largest rare earth mineral reserves doesn’t automatically translate to dominance in production or supply. Some countries sit on massive stockpiles yet remain minor producers, while others maximize their smaller reserves. Understanding which countries hold the most rare earth minerals—and what they’re actually doing with them—is essential to understanding tomorrow’s tech and energy landscape.

China’s Overwhelming Dominance in Rare Earth Minerals Storage

It should come as no surprise that China holds the world’s largest rare earth mineral reserves at 44 million metric tons (MT). The country’s dominance is staggering: in 2024, China produced 270,000 MT of rare earths—accounting for roughly 69% of global output. Yet despite this commanding position, Beijing remains obsessed with protecting and expanding its reserves.

Back in 2012, Chinese officials warned that domestic rare earth mineral reserves were depleting at an alarming rate. The government responded aggressively. By 2016, it announced plans to establish both commercial and national stockpiles, essentially creating a strategic rare earth minerals reserve. Over the years, China has cracked down on illegal mining operations, shutting down environmentally non-compliant mines and restricting exports. These production caps are now easing, and mining quotas have been raised several times in recent years.

China’s control over rare earth minerals has triggered global friction. When the country cut exports in 2010, prices exploded and sparked an international scramble to find alternative sources. More recently, the US-China trade war has increasingly centered on rare earth minerals and magnet technology. In December 2023, China banned the export of technology to manufacture rare earth magnets—a direct shot across the bow. Additionally, China has been importing heavy rare earth minerals from Myanmar, where environmental regulations are virtually nonexistent and mountains along the China-Myanmar border have been devastated by extraction.

The Surprising #2: Brazil’s Massive But Dormant Rare Earth Minerals Stockpile

Brazil holds the world’s second-largest rare earth mineral reserves at 21 million MT—yet it barely produces any. In 2024, Brazilian mines extracted just 20 MT. That’s about to change dramatically.

Serra Verde, a rare earths company, launched Phase 1 commercial production at its Pela Ema deposit in Goiás state in early 2024. By 2026, the company expects to produce 5,000 MT of rare-earth oxide annually. Pela Ema ranks among the world’s largest ionic clay deposits and is set to produce all four critical magnet rare earth minerals: neodymium, praseodymium, terbium, and dysprosium. Notably, it will be the only rare earth minerals operation outside China capable of producing all four simultaneously. This could rewrite Brazil’s position in global rare earth supply.

India, Australia, and Russia: The Mid-Tier Rare Earth Minerals Powers

India holds 6.9 million MT of rare earth mineral reserves and produced 2,900 MT in 2024, maintaining steady-state production. The country sits on nearly 35% of the world’s beach and sand mineral deposits—significant natural advantages for rare earth extraction. In late 2023, India’s government began drafting policies to support rare earth minerals research and development. By October 2024, Trafalgar, an Indian engineering firm, announced plans to build the country’s first rare earth metals, alloy, and magnet plant.

Australia ranks fourth with 5.7 million MT in rare earth mineral reserves and produced 13,000 MT in 2024 (tied for fourth globally). Extraction has only been happening since 2007, but momentum is accelerating. Lynas Rare Earths operates the Mount Weld mine and runs a major refining facility in Malaysia, making it the world’s largest non-Chinese rare earth minerals supplier. The company’s Mt Weld expansion was completed in 2025, and its new processing facility in Kalgoorlie ramped up in mid-2024. Hastings Technology Metals’ Yangibana mine is shovel-ready, with an offtake agreement signed and first concentrate expected in Q4 2026.

Russia holds 3.8 million MT of rare earth mineral reserves—a significant drop from 10 million MT the prior year. Russian production in 2024 reached 2,500 MT, flat with the previous year. The Kremlin had announced a US$1.5 billion investment plan in 2020 to compete with China in rare earth minerals. However, the Ukraine invasion has essentially frozen these ambitions as resources are redirected to military priorities.

Vietnam and Vietnam’s Challenges: Ambitious Rare Earth Minerals Goals Meet Reality

Vietnam’s rare earth mineral reserves total 3.5 million MT—though this represents a dramatic downward revision from 22 million MT just one year prior based on updated company and government assessments. Production in 2024 was minimal at 300 MT. The country had ambitiously targeted producing 2.02 million MT of rare earth minerals by 2030, but that timeline appears jeopardized. In October 2023, six rare earth executives were arrested, including Vietnam Rare Earth’s chairman, on accusations of VAT receipt fraud. That regulatory crackdown has clearly dampened progress.

The United States: Second in Production, Seventh in Rare Earth Minerals Reserves

Here’s a striking paradox: the US is second globally in rare earth production at 45,000 MT in 2024, yet holds only 1.9 million MT in rare earth mineral reserves—ranking seventh worldwide. This disparity reflects the country’s reliance on importing and reprocessing materials rather than primary mining. Currently, rare earth minerals extraction in the US happens exclusively at California’s Mountain Pass mine, operated by MP Materials. The company is now building downstream capabilities at its Fort Worth facility to convert rare earth oxides into rare earth magnets and related products.

The Biden Administration allocated US$17.5 million in April 2024 to develop rare earth minerals processing technologies that could extract materials from secondary coal and coal by-products. This signals Washington’s intent to build a more resilient domestic supply chain.

Greenland: The Geopolitical Wildcard with 1.5 Million MT in Rare Earth Minerals

Greenland holds 1.5 million MT of rare earth mineral reserves but currently produces none. However, the island hosts two major projects: Tanbreez and Kvanefjeld. Critical Metals completed Stage 1 of its Tanbreez acquisition in July 2024 and commenced drilling in September. Meanwhile, Energy Transition Minerals has faced repeated obstacles with Greenland’s government over the Kvanefjeld project. The company’s operating license was revoked over uranium concerns, and even an amended plan excluding uranium faced rejection in September 2023. As of October 2024, the matter remains under judicial review.

Interestingly, with Donald Trump back in the White House, Greenland’s rare earth mineral reserves have caught Washington’s attention—though Greenland’s Prime Minister and the King of Denmark have made clear the territory is not for sale.

The Bigger Picture: Global Rare Earth Minerals Supply Dynamics

Global rare earth mineral reserves total 130 million MT. In 2024, worldwide production reached 390,000 MT, up from 376,000 MT in 2023. A decade ago, global output was barely 100,000 MT; the sector only surpassed 200,000 MT in 2019. This explosive growth reflects surging demand from electric vehicles, renewable energy, and consumer electronics.

The challenge isn’t scarcity—it’s concentration and geopolitics. China controls not just the largest reserves but the entire processing and refining chain. Meanwhile, countries like Brazil and Australia possess vast stockpiles but lack the infrastructure to exploit them quickly. Russia’s ambitions have stalled. India is mobilizing but moving cautiously. The US is investing heavily but starting from a deficit position.

By 2026, the landscape continues evolving. Projects that seemed dormant five years ago are now operational or imminent. Supply chain resilience is no longer a luxury—it’s a necessity. Which countries ultimately dominate rare earth minerals in the next decade will reshape not just technology, but geopolitical influence itself.