Rare Earth Supply Chains: China’s Processing Grip Drives Global Diversification Push
GlobalData-cited estimates place 2023 rare earth mine production at ~350,000t REO, with China supplying over 69% of mined output and nearly 90% of processing. Diversification is advancing via the US, Australia and others, but downstream processing capacity, cost competitiveness, and ESG/traceability risks—especially in Myanmar—remain key constraints.