The Rare Earth Industry Association (REIA) is pleased to release, in collaboration with Benchmark Mineral Intelligence (Benchmark), REIA’s first quarterly rare-earth market report.

The report is developed by Benchmark and will review key market news and highlights from the global rare-earth landscape each quarter.

A few highlights of the Q2 2024 report include:

• Supportive supply-side policy in China and a ramp-up of operations at Lynas’ Mt. Weld will keep the market well-supplied, with a projected supply surplus out for the next few quarters.
• Europe has the highest number of processing plants in the pipeline, outside of China, promising to purchase from diverse feedstock sources.
• China and Myanmar are the two largest heavy-rare-earth mining regions in 2024, accounting for 93% of the total mined Dy supply.
• The largest driver of rare-earth permanent-magnet demand in end use applications is expected to be e-mobility (33.9%), followed closely by consumer electronics (22.6%) and industrial machinery (20.1%).