Rare Earth Production, Use and Price

Rare earths occur around the world but are mostly mined and extracted in China. Mining in other countries (e.g., Australia, India, and USA) is increasing—but slowly. Prices of all rare earths peaked in 2011. They have fallen ever since. This has had a discouraging effect on new mining projects. Rare earths have a myriad of uses. The major uses (tonnage-wise) are permanent rare earth-transition metal magnets, oxide catalysts, oxide polishing powders, and rare earth-hydride rechargeable batteries. They also have many minor uses, small in tonnage but huge in significance—for example, medical lasers, data transmission fiber amplifiers, and luminescent materials.