Top 10 Neodymium Producers in 2026

Neodymium producers are concentrated in a small number of operations that together determine the global supply of the most commercially critical rare earth element. Neodymium is not mined in isolation: it is extracted alongside praseodymium as the blended NdPr oxide that feeds the permanent magnet supply chain powering electric vehicles, wind turbines, defence systems, and industrial robotics. The ten neodymium producers ranked below account for the overwhelming majority of that output — from China’s dominant state producers to the Western challengers reshaping supply chain geography in 2026.

How We Ranked the Top 10 Neodymium Producers

Rankings are based on annual rare earth oxide (REO) output with a weighting toward NdPr-specific capacity and production, where data is available. Chinese state producers are ranked by total light REO throughput given that NdPr-specific separation data is not published at the company level. Western and emerging neodymium producers are ranked by confirmed or nameplate NdPr oxide production. All figures are sourced from company filings, USGS Mineral Commodity Summaries 2025, and the most recent quarterly reports as of May 2026.

1. China Northern Rare Earth Group — China

China Northern Rare Earth (Group) High-Tech Co. (SHA: 600111) is the world’s largest rare earth producer by output volume, operating the Bayan Obo deposit in Inner Mongolia — the largest known rare earth reserve on Earth, accounting for more than 40% of global REO reserves. The company specialises in light rare earths: neodymium, praseodymium, lanthanum, and cerium derived from Bayan Obo’s bastnäsite-monazite mineralogy. China’s Ministry of Industry and Information Technology sets biannual mining quotas; Bayan Obo’s allocation is the single largest variable in the light rare earth supply equation, and Western commodity traders monitor its quota cycles as a primary NdPr price signal. China produced approximately 270,000 metric tonnes of REO in the most recently confirmed USGS data — around 69% of global output — with Bayan Obo as the primary driver. In January 2026, China Northern reported rare earth metals output up 32.84% year-on-year and functional materials output up 52.04%, signalling continued downstream integration across the full NdPr value chain.

See our full profile: China Northern Rare Earth Group.

2. China Rare Earth Group — China

China Rare Earth Group Co., Ltd. was formed in 2021 through the consolidation of six southern Chinese state producers, including China Minmetals Rare Earth, Chinalco Rare Earth, and Ganzhou Rare Earth. The group controls the ionic clay deposits of Jiangxi, Guangdong, and Fujian provinces — the world’s primary source of heavy rare earth elements including dysprosium and terbium, and a significant source of neodymium from southern China’s light rare earth deposits. China Rare Earth Group and China Northern together form a state-directed duopoly that handles the majority of China’s formal quota allocations. China controls approximately 92% of refined NdPr supply globally, according to Bloomberg Intelligence analysis published in March 2026. The group’s consolidated output dwarfs any non-Chinese neodymium producer; individual company-level NdPr production data is not publicly disclosed.

See our full profile: China Rare Earth Group.

3. Lynas Rare Earths — Australia (ASX: LYC)

Lynas Rare Earths is the largest neodymium producer outside China, mining high-grade ore at Mt Weld in Western Australia — one of the richest rare earth deposits in the world at 4.12% TREO average grade across a 106.6 million tonne resource. Ore is concentrated at Mt Weld and shipped to the Lynas Advanced Materials Plant (LAMP) in Kuantan, Malaysia for separation, with additional processing now commissioned at Kalgoorlie, Western Australia. Lynas sold 6,555 tonnes of NdPr product in its FY2025 financial year, an 18% increase on the prior period. The Mt Weld expansion, currently under construction at a cost of A$500 million, targets 12,000 tpa of NdPr oxide at nameplate capacity. Lynas is the only commercial-scale producer of separated heavy rare earth elements outside Chinese jurisdiction. A new heavy rare earth facility at its Malaysian plant is delivering samarium oxide from April 2026, with dysprosium and terbium to follow. A rare earth separation facility at Seadrift, Texas — part-funded by the US Department of Defense — is also under development.

See our full profile: Lynas Rare Earths and our neodymium price tracker for current NdPr pricing context.

4. MP Materials Corp — USA (NYSE: MP)

MP Materials operates Mountain Pass in California — the only rare earth mine and processing facility of commercial scale active in the Western Hemisphere. The company produced 2,599 metric tonnes of NdPr oxide in 2025, more than double the 1,294 MT recorded in 2024, and set a quarterly record of 917 MT in Q1 2026, a 63% year-on-year increase. Total REO in concentrate reached a record 50,692 MT in 2025. In January 2025, the company’s Independence facility in Fort Worth, Texas commenced commercial NdPr metal production, with trial production of automotive-grade sintered NdFeB magnets underway for General Motors. MP is scaling toward approximately 4,000 MT NdPr per year at current run-rate, with commissioning of a heavy rare earth separation facility at Mountain Pass — targeting dysprosium and terbium — expected in mid-2026. The company holds a price protection agreement with the US Department of War covering NdPr products from October 2025.

See our full profile: MP Materials.

5. Shenghe Resources — China (SHA: 600392)

Shenghe Resources Holding Co. is one of China’s largest rare earth trading and processing groups, with operations spanning domestic mining participation, chemical processing, and strategic international investments. Shenghe holds a significant shareholding in MP Materials and has historically acted as MP’s offtake partner for concentrate shipped to China — an arrangement that has evolved as MP transitions to domestic NdPr separation. Shenghe participates in rare earth mining across China’s major producing regions and holds international assets in West Africa. The company’s consolidated processing throughput makes it one of the largest handlers of separated NdPr oxide in China, though company-level output data is not disclosed separately from its trading volumes. As a major intermediary between Chinese neodymium producers and international buyers, Shenghe’s logistics network spans ore, oxide, and downstream product flows.

6. Neo Performance Materials — Canada/Estonia (TSX: NEO)

Neo Performance Materials is the leading Western processor of rare earth materials into advanced functional products, operating the Silmet facility in Sillamäe, Estonia — one of the only rare earth separation plants in Europe. Neo’s core rare earth business produces neodymium-iron-boron (NdFeB) magnetic powders and rare earth oxides for precision motors, automotive components, and consumer electronics. The company sources separated rare earth oxides from multiple suppliers and converts them into bonded magnet powders and specialty products used by manufacturers across Europe, North America, and Asia. Neo holds a unique position as the downstream link between separated NdPr oxide supply and Western magnet manufacturing — a role that becomes structurally more valuable as neodymium producers outside China scale output.

7. Energy Fuels Inc — USA (NYSE: UUUU)

Energy Fuels achieved commercial-scale production of separated NdPr oxide at its White Mesa Mill in Utah in 2024 — the first facility in the United States to do so from commercial rare earth ores. The mill processes monazite concentrate sourced from heavy mineral sands operations, separating individual rare earth oxides through a dedicated solvent extraction circuit. In August 2025, Energy Fuels produced its first kilogram of 99.9% purity dysprosium oxide at pilot scale; by December 2025, that material had passed initial QA/QC qualification at a major South Korean automotive magnet manufacturer. Commercial-scale heavy rare earth production — targeting up to 48 MT of dysprosium oxide and 14 MT of terbium oxide per year — is targeted for Q4 2026. Energy Fuels holds inventories of separated NdPr oxide and mixed rare earth carbonate, and is also advancing the Donald Project in Australia as a future monazite feed source.

See our full profile: Energy Fuels.

8. Iluka Resources — Australia (ASX: ILU)

Iluka Resources is advancing the Eneabba Rare Earths Refinery in Western Australia — which, when commissioned, will be Australia’s first fully integrated rare earth refinery and one of very few facilities outside China capable of producing both light and heavy separated rare earth oxides. The refinery has a designed capacity of 17,500 tonnes per year of total rare earth oxide, with approximately 80% of that value concentrated in neodymium, praseodymium, dysprosium, and terbium. Feed will initially come from Iluka’s own monazite stockpile accumulated since the 1990s. Total capex has risen to A$1.7–1.8 billion, funded through a strategic partnership with the Australian government. Construction is advancing, with commissioning now scheduled for 2027 — revised from the original 2026 target. Iluka is not currently among active neodymium producers; this ranking reflects confirmed near-term production capacity.

See our full profile: Iluka Resources.

9. Arafura Rare Earths — Australia (ASX: ARU)

Arafura Rare Earths reached Final Investment Decision on the Nolans Bore Project in May 2026 — one of the most significant milestones in Western rare earth development in years. The project, located 135 km north of Alice Springs in Australia’s Northern Territory, is designed to produce 4,440 tonnes per year of separated NdPr oxide from a JORC-compliant resource of 56 million tonnes at 2.6% TREO. Construction is scheduled to begin in September 2026, with EPCM contractor Hatch appointed. A$375 million equity raise launched on 22 May 2026 to fully fund the project alongside a A$840 million concessional loan from Export Finance Australia. Offtake agreements are in place with Hyundai and Kia (South Korea), Siemens Gamesa (Germany), and Traxys. At full production, Nolans would rank among the largest neodymium producers outside China, supplying approximately 5% of projected global NdPr demand.

See our full profile: Arafura Rare Earths.

10. Vital Materials — China

Vital Materials Co. is a Chinese critical minerals producer and MMTA member with operations in germanium, gallium, indium, and rare earth elements. The company produces rare earth oxides and compounds for export markets, with an active Western customer engagement programme. Vital Materials operates processing facilities in China and holds established relationships with European and North American buyers — positioning it as a key intermediary between Chinese neodymium producers and the non-Chinese market. While smaller in scale than the two major state groups, Vital Materials represents the category of mid-tier Chinese processor that supplies the majority of rare earth specialty products reaching Western industrial buyers.

Neodymium Producers — Comparison Table

The Outlook for Neodymium Producers

Bloomberg Intelligence projects that non-Chinese neodymium producers will increase output 4.4 times between 2024 and 2030, driven primarily by expansion at Lynas, MP Materials, and a cohort of new Australian entrants. Yet even this expansion leaves a projected 36% global NdPr shortfall by 2030 as demand — concentrated in EV motors and wind turbines — grows at roughly 7% annually. China’s export control framework, partially suspended until November 2026 under the Trump-Xi summit agreement, has not been dismantled. The April 2025 controls on seven medium and heavy rare earth elements remain active, maintaining a licensing layer that can be reimposed at short notice. The ranking of leading neodymium producers will shift materially through the late 2020s as Arafura, Iluka, and others reach nameplate capacity — but Chinese dominance at the processing level is a structural constraint that no single project resolves. For data on how NdPr supply dynamics feed into spot pricing, see our neodymium price tracker. For the broader country-level production context, see our guide to the top 10 rare earth producing countries. For authoritative production statistics, see the USGS Rare Earths Statistics and Information page.

This article is for informational purposes only and does not constitute investment advice. Production data is sourced from company filings, USGS Mineral Commodity Summaries 2025, and publicly available quarterly reports as of May 2026.