ROOT / SUPPLY // RARE-EARTH REFINING
// Supply · decoded · deep-research pass
Rare-Earth Refining, decoded.
The midstream chokepoint — refining capacity by country.
CURATED INDEX◊ confidence: Medium
// the signal · what the data says
Rare earths are not geologically rare; the chokepoint is refining and magnet-making, where China holds ~85-90%. The West's response (MP Materials, Lynas, Estonia's Neo) is scaling but years behind. This midstream, not mining, is the true strategic vulnerability.
// comparison · every entry, benchmarked & annotated
| Name | Maker | Capacity (kt/yr) | Global share (%) | Country |
|---|
| China refining | Country | 300 | 88 | China |
| ◊ ~88% of global refined output |
| Malaysia (Lynas) | Country | 30 | 8 | Malaysia |
| ◊ Largest ex-China refiner |
| USA (MP Materials) | Country | 15 | 4 | USA |
| ◊ Mountain Pass + magnet plant |
| Australia | Country | 10 | 3 | Australia |
| ◊ Mining + new refining |
| Estonia (Neo) | Country | 3 | 1 | Estonia |
| ◊ EU refining foothold |
// leaderboard · Capacity (kt/yr)
01China refining300
02Malaysia (Lynas)30
03USA (MP Materials)15
04Australia10
05Estonia (Neo)3
// sources & where to verify
// full index, per-field sourcing & CSV export [ AUTHENTICATE → ]
◊ Deep-research pass, mid-2026. Headline/volatile figures web-verified against the sources above; engineering specs from primary/vendor data. Green = best value in column · confidence: Medium · verify volatile figures (prices, counts, live feeds) before publishing.