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global commodities

Which Countries Have the Largest Rare Earth Reserves?

The USGS’s 2026 estimates put China first in reported rare earth reserves, with Brazil second and Australia third. Reserve size is not the same as mine output.

By TheFinanceBase Team 3 min read
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China has the largest reported rare earth reserves, followed by Brazil and Australia, according to the U.S. Geological Survey’s 2026 country estimates. But reserves are not the same as annual mine output or ready-to-use supply: in 2025, the United States produced more rare earths than Brazil, despite its much smaller reported reserve estimate.

Which countries have the largest rare earth reserves?

The USGS’s 2026 Mineral Commodity Summaries lists China, Brazil and Australia as the three countries with the largest reported reserves. The figures below are metric tons. Production figures are USGS estimates for 2025, not reserve totals.

Country Reported reserves 2025 mine production
China 44,000,000 270,000
Brazil 21,000,000 2,000
Australia 6,300,000 29,000
Russia 3,800,000 2,600
Vietnam 3,500,000 150
United States 1,900,000 51,000
Greenland 1,500,000 0 (shown as a dash by USGS)
Tanzania 890,000 0 (shown as a dash by USGS)
South Africa 860,000 0 (shown as a dash by USGS)
Canada 830,000 0 (shown as a dash by USGS)
Malaysia 710,000 110
India Not available 2,900

The table’s rounded world total is more than 85 million metric tons of reserves. USGS estimates world mine production at 390,000 metric tons in 2025. These totals describe different things and should not be compared as if reserves were the amount mined in a year.

What “deposits” means in this ranking

The title’s “deposits” is best read here as reported national reserves, the comparable country measure in the USGS table. Reserves are not a count of every known occurrence or the same as broader geological resources. The USGS says definitions and data sources for reserves and resources are provided in Appendix C of its report.

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Nor does a large reserve figure establish how quickly a country can mine, separate, refine or deliver material. The USGS cautions: “Rare earths are relatively abundant in the Earth’s crust, but minable concentrations are less common than for most other mineral commodities.”

Why reserve size and mine output tell different stories

In the 2025 production estimates, China led with 270,000 metric tons, followed by the United States at 51,000 and Australia at 29,000. Brazil, with the second-largest reported reserves, produced an estimated 2,000 metric tons. The U.S. reserve estimate of 1.9 million metric tons is below Vietnam’s 3.5 million, yet U.S. mine production was higher than Vietnam’s 150 metric tons.

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Some production entries have specific qualifications. USGS identifies China’s 2025 figure as a quota amount that excludes undocumented production. For Burma, Madagascar, Malaysia, Thailand and Vietnam, production estimates are based on reported import data for China; estimates should not be mistaken for precise measurements. A dash in the USGS table means zero, while “NA” means data are unavailable. India has a production estimate but no reserve figure in the 2026 table, so missing reserve data do not mean zero reserves.

How to read Australia’s reserve figure

Australia’s table estimate is 6.3 million metric tons, but the USGS separately notes 3.3 million tons of reserves compliant with, or equivalent to, the Joint Ore Reserves Committee (JORC) standard. These numbers reflect different reporting bases; the 3.3 million figure is not a replacement for the broader country estimate in the table. The USGS says its reserve estimate was revised based on government reports.

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What the figures say—and do not say—about supply

The USGS table covers rare earths including the lanthanides and yttrium, while excluding most scandium. It reports that 2024 production figures were substantially revised for Australia, Brazil, Burma, Madagascar, Nigeria and Vietnam, and that reserve figures for Australia and Malaysia were revised. Country reserve rankings therefore depend on the definitions and reporting underlying the published estimates.

Reserve totals alone do not show which countries control processing or refining capacity, how much material is commercially available, or whether supply can reach manufacturers. The 2026 USGS report also describes Chinese export-control changes: controls on specified rare-earth products tightened in April 2025 and expanded in October; the October controls were suspended for one year in November, while April controls remained in effect and general export licenses began being issued to selected exporters. This is the policy position as summarized in that edition, not a guarantee of current conditions.

Sources: USGS, Mineral Commodity Summaries 2026: Rare Earths; USGS publication record (published February 6, 2026; revised May 27, 2026).

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