China holds 44 million metric tons of rare earth reserves, almost four times the combined total of every other country in the top 10, according to the US Geological Survey’s 2026 Mineral Commodity Summaries. Global rare earth reserves total more than 75 million metric tons, but ownership of that resource base is heavily concentrated, and several countries with the largest reserves remain marginal producers.
This ranking differs from a deposit-by-deposit list: for project-level detail on individual mines such as Bayan Obo, Mount Weld, and Mountain Pass, see our Top 10 Rare Earth Deposits ranking. The list below ranks countries by total reserves.
How We Ranked the Top 10 Rare Earth Reserves
Countries are ranked by total proven and probable rare earth reserves, measured in metric tons of rare-earth-oxide (REO) equivalent, as reported in the USGS Mineral Commodity Summaries 2026. Reserves data reflects what is economically extractable at current prices and technology, not total geological resources, which can be substantially higher. Reserves and current mine production are two different measures: several countries near the top of this list, including Brazil and Greenland, produced little to no rare earth output in 2025 despite holding some of the world’s largest reserves.
1. China — 44,000,000 MT
China holds roughly 48% of global rare earth reserves and produced 270,000 metric tons of REO in 2025, by far the world’s leading output. Reserves are concentrated at the Bayan Obo carbonatite deposit in Inner Mongolia and in southern China’s ion-adsorption clay deposits. China also controls an estimated 90% of global rare earth separation and refining capacity, a processing dominance that extends well beyond its reserve share. See our China rare earth guide for deposit-level detail and current export policy.
2. Brazil — 11,000,000 MT
Brazil holds the second-largest reserves in the world but produced just 2,000 metric tons in 2025, illustrating the gap between reserve size and operational output. Serra Verde’s Pela Ema deposit in Goias is the country’s most advanced project and the only operation outside China producing all four magnet-critical heavy rare earths: neodymium, praseodymium, terbium and dysprosium. USA Rare Earth’s pending $2.8 billion acquisition of Serra Verde, which includes a 15-year US government offtake agreement, is expected to close in Q3 2026, subject to Brazilian competition authority review. See our coverage of the acquisition and our Brazil rare earth guide.
3. Australia — 6,300,000 MT
Australia’s reserves are concentrated in hard-rock carbonatites, led by Lynas Rare Earths’ Mount Weld deposit in Western Australia. Hastings Technology Metals’ Yangibana project, fully permitted and roughly 30% built out, is advancing toward a final investment decision through its joint venture with Wyloo Metals, targeting first concentrate by late 2026 subject to financing. Australia produced 29,000 metric tons of REO in 2025, the third-highest output globally. Full detail in our Australia rare earth guide.
4. Russia — 3,800,000 MT
Russia’s reserves were revised down sharply from 10 million metric tons in 2023 to 3.8 million in current USGS data, based on updated government and industry reporting. Production remains minimal at 2,600 metric tons in 2025. Moscow has framed its reserves as diplomatic leverage with European countries seeking to reduce dependence on China, including plans for a Siberian processing hub aimed at partners in friendly countries. See our Russia rare earth guide.
5. Vietnam — 3,500,000 MT
Vietnam’s reserves were also revised down significantly, from a reported 22 million metric tons in the prior year to 3.5 million in the current USGS data. Production fell to just 150 metric tons in 2025, hampered by a 2023 corruption investigation involving rare earth mining executives and former government officials. Most Vietnamese deposits are concentrated in the mountainous Lai Chau and Lao Cai provinces in the north. See our Vietnam rare earth guide.
6. United States — 1,900,000 MT
The United States ranks sixth in reserves but second in production, at 51,000 metric tons in 2025, almost entirely from MP Materials’ Mountain Pass mine in California. MP Materials has built downstream magnet and precursor capability at a Fort Worth, Texas hub, backed by a US government equity stake. USGS measured and indicated resources, a broader category than reserves, put the US figure at 3.6 million tons. See our MP Materials profile and United States rare earth guide.
7. Greenland — 1,500,000 MT
Greenland holds no current production but its Tanbreez deposit is among the most advanced heavy-rare-earth projects in development globally. Critical Metals Corp closed its acquisition of the remaining stake in Tanbreez in April 2026, bringing total ownership to 92.5%, and has pilot plant construction underway near Qaqortoq. The company is targeting first ore production in late 2028 or early 2029. Full detail in our Greenland rare earth guide.
8. Tanzania — 890,000 MT
Tanzania’s Ngualla project, a high-grade NdPr carbonatite deposit, is one of the largest undeveloped rare earth resources in Africa. Ownership shifted in 2025 when China’s Shenghe Resources acquired Peak Rare Earths, the project’s former Australian operator; no construction start date has been confirmed under the new ownership as of this update. The acquisition raises questions about Ngualla’s role in Western supply chain diversification. See our Tanzania rare earth guide and Africa rare earth hub.
9. South Africa — 860,000 MT
South Africa’s Phalaborwa project, operated by London-listed Rainbow Rare Earths, would recover rare earths from historic phosphogypsum waste stacks in Limpopo rather than primary mining, lowering capital intensity. The project carries US government backing through the Development Finance Corporation and TechMet, with a definitive feasibility study underway and no final investment decision yet confirmed. See our South Africa rare earth guide.
10. Canada — 830,000 MT
Canada has no current rare earth production but holds the largest measured and indicated resource base in North America at more than 14 million metric tons, well above its formal reserve figure. The country’s deposits remain largely at exploration and early development stage, positioning Canada as a longer-term contributor to Western supply diversification rather than a near-term producer. See our Canada rare earth guide.
Rare Earth Reserves by Country: Comparison Table
| Rank | Country | Reserves (MT REO) | 2025 Production (MT) |
|---|---|---|---|
| 1 | China | 44,000,000 | 270,000 |
| 2 | Brazil | 11,000,000 | 2,000 |
| 3 | Australia | 6,300,000 | 29,000 |
| 4 | Russia | 3,800,000 | 2,600 |
| 5 | Vietnam | 3,500,000 | 150 |
| 6 | United States | 1,900,000 | 51,000 |
| 7 | Greenland | 1,500,000 | 0 |
| 8 | Tanzania | 890,000 | 0 |
| 9 | South Africa | 860,000 | 0 |
| 10 | Canada | 830,000 | 0 |
Source: USGS Rare Earths Statistics and Information, Mineral Commodity Summaries 2026.
The Outlook for Rare Earth Reserves
The reserves-versus-production gap is the central theme in this list. Five of the ten countries with the largest rare earth reserves, Brazil, Greenland, Tanzania, South Africa and Canada, produced little or no rare earth output in 2025, meaning the next several years will be defined by which of these reserve-rich countries actually convert resource into supply. Ownership is also shifting: Chinese acquisition of African and Asian projects (Tanzania’s Ngualla) is running alongside Western-backed acquisitions elsewhere (Brazil’s Serra Verde, Greenland’s Tanbreez), making the geopolitics of reserve ownership as consequential as the reserve totals themselves.
Reserve estimates are also revised more frequently than headline figures suggest: Russia’s and Vietnam’s reserves were both cut by more than half within the past two years as government and industry reporting was updated, a reminder that reserve figures should be treated as current best estimates rather than fixed totals. For ongoing coverage of how reserve and production data evolves, see USGS’s rare earths data center.
This article is for informational purposes only and does not constitute investment advice. Reserve and production figures are subject to revision by national governments and the USGS.
Which country has the largest rare earth reserves?
China holds the largest rare earth reserves in the world, accounting for roughly 48% of the global total. Its reserves are concentrated in the Bayan Obo deposit in Inner Mongolia and in ion-adsorption clay deposits across southern China.
What is the difference between rare earth reserves and rare earth deposits?
Reserves refer to the proven and probable resource that is currently economically extractable, while deposits is a broader term covering any identified rare earth occurrence regardless of whether it is economically minable today. A country or project can host large deposits without those deposits qualifying as formal reserves.
Does having large rare earth reserves mean a country produces a lot of rare earths?
No. Several countries in the top 10 by reserves, including Brazil, Greenland, Tanzania, South Africa and Canada, currently produce little to no rare earth output. Converting reserves into production requires financing, processing infrastructure and, in most cases, years of project development.
How are rare earth reserves measured and reported?
Reserves are measured in metric tons of rare-earth-oxide (REO) equivalent and reported annually by national geological surveys, compiled globally by the US Geological Survey in its Mineral Commodity Summaries. Figures can be revised significantly year to year as new government and industry data becomes available.
Why do some countries’ rare earth reserve estimates change so much year to year?
Reserve estimates depend on exploration results, updated economic assessments, and revised government reporting standards, all of which can shift materially between annual USGS publications. Vietnam and Russia are recent examples of countries whose reserve figures were revised down substantially as new data was incorporated.
