Compared with China’s two state-owned rare-earth giants, United States-based companies seeking to bridge the gap between the two global superpowers still have a lot of catching up to do.
Some analysts attribute this lag to a historic lack of policy support and are hopeful that a substantial shift in this area will help narrow the divide.
According to the National Minerals Information Center at the U.S. Geological Survey (USGS), global rare earth mine production in 2024 was estimated to have increased to 390,000 tons, primarily driven by expanded mining and processing in China, Nigeria, and Thailand.
China alone produced 270,000 tons of rare earth minerals in 2024, a 5.9 percent increase from 255,000 tons in 2023. In comparison, the United States domestically produced about 45,000 tons of rare earth oxides in mineral concentrates, up by 9.7 percent from 41,600 tons in 2023….