6 Best Rare Earth Mining Companies in the USA Ranked for 2025

UPDATED: 17 JUNE 2025

Did you know that the USA depends on China for about 70% of its rare earth imports? That’s right! Even though the U.S. has rich deposits of these critical minerals, only a handful of companies are extracting and refining them at scale. As global demand for rare earth elements (REEs) skyrockets—thanks to electric vehicles, renewable energy, and defense applications—investors and industry experts are hunting for the best American mining companies to bet on.

We’ll rank the top 6 rare earth mining companies in the USA, covering their operations, financial performance, sustainability efforts, and market potential. This ranking aligns with our Project/Deposit Database.

Let’s dig in.

What Are the Best Rare Earth Mining Companies in the USA?

Rare earth elements are critical to modern technology, powering everything from smartphones to military equipment. The United States is working hard to develop domestic mining capabilities to reduce reliance on foreign suppliers, particularly China.

1. MP Materials (NYSE: MP) – The Leading U.S. Rare Earth Producer

MP Materials stands at the forefront of domestic rare earth production. Located in Las Vegas, Nevada, the company operates the Mountain Pass Mine in California – currently the only active rare earth mine in the United States. This strategic facility extracts crucial elements like neodymium and praseodymium, which are essential for high-tech industries and renewable energy technologies.

Financial Performance and Market Position

The company has shown impressive growth since its founding in 2017. MP Materials has consistently demonstrated strong financial performance, with increasing revenue and a robust stock valuation. Their Mountain Pass facility represents a critical asset in the domestic rare earth supply chain, attracting significant investor and government interest.

Future Outlook and Sustainability

MP Materials isn’t just focused on extraction. The company has ambitious expansion plans, including developing advanced refining capabilities and establishing strategic partnerships with government agencies. Their commitment to environmental sustainability and regulatory compliance sets them apart in the mining industry.

2. American Rare Earths (ASX: ARR) – Advancing Exploration Across the U.S. Southwest

American Rare Earths is rapidly expanding its footprint in the U.S. with large-scale exploration projects in Arizona and Wyoming. Its flagship project, Halleck Creek in Wyoming, is emerging as one of the largest undeveloped rare earth deposits in North America.

U.S.-Focused Exploration Strategy

The company is committed to building a fully American supply chain for rare earths, with an emphasis on clean extraction and long-term scalability. Their acquisition of new projects in Arizona further solidifies their role in the future of U.S. critical mineral independence.

Outlook and Industry Relevance

Though not yet in production, the size and quality of their deposits make American Rare Earths one of the most closely watched early-stage companies in the sector.

3. USA Rare Earth – Developing Domestic Rare Earth Refining Capabilities

This privately held company is making significant strides in reshoring rare earth processing to the United States. Their Round Top Rare Earth and Lithium Project in Texas represents an ambitious approach to domestic resource development.

Expansion and Technology

USA Rare Earth (opens in a new tab) is not just focused on mining but is actively developing rare earth separation and magnet production capabilities. Their sustainability initiatives demonstrate a commitment to minimizing ecological impact while supporting critical technology supply chains.

4. NioCorp Developments (NASDAQ: NB) – Unlocking Critical Minerals in the Heartland

NioCorp Developments is spearheading the development of the Elk Creek Project in Nebraska, a proposed underground mine targeting a unique combination of niobium, scandium, titanium, and rare earth elements. This project places NioCorp at the center of America’s efforts to secure domestic sources of strategic materials essential for clean energy, aerospace, and defense.

Critical Mineral Focus

What makes NioCorp stand out is its focus on minerals that are not only rare, but also critical to multiple supply chains. Niobium strengthens steel for vehicles and infrastructure, scandium improves aluminum for aerospace applications, and REEs like neodymium and praseodymium are key to magnet production for electric motors and wind turbines.

Federal Support and Industry Momentum

NioCorp is one of only a few companies to receive direct engagement from the U.S. Department of Energy, which has signaled strong federal interest in advancing the Elk Creek Project. The company has completed a Feasibility Study and is working on securing funding and environmental permitting to begin construction.

Long-Term Potential

With a strong resource base, growing policy support, and a clear vision for vertical integration, NioCorp could become a cornerstone supplier of critical minerals to American industry.

5. Ucore Rare Metals (TSXV: UCU, OTCQX: UURAF) – Advancing Rare Earth Refining Technologies

With headquarters in Halifax, Canada, and a U.S. subsidiary in Alaska, Ucore Rare Metals brings innovative technology to rare earth processing. Their Bokan Mountain project in Alaska represents a potential significant rare earth production site.

Technological Innovation

The company’s proprietary RapidSX separation technology sets them apart. This innovative approach to rare earth processing could significantly reduce extraction costs and environmental impact, making them an attractive option for investors and industry partners.

6. Idaho Strategic Resources (NYSE: IDR) – A Growing Player in Domestic Rare Earth Exploration

Located in North Idaho, Idaho Strategic Resources is expanding from gold and critical minerals exploration into rare earth elements. The company’s Lemhi Pass region holds significant promise as a domestic rare earth resource, with historical data showing high concentrations of neodymium, praseodymium, and other strategic elements.

Exploration and Strategic Focus

While not yet producing at scale, Idaho Strategic is aggressively exploring its rare earth holdings, emphasizing low-impact, high-yield opportunities within the U.S. border. Their diversification from gold into critical minerals aligns with national interests in resource independence.

Potential and Industry Position

With increasing investor attention and government interest in domestic REE supply, Idaho Strategic Resources is well-positioned for growth if exploration efforts yield viable production pathways.

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Additional Notable Rare Earth Mining Companies

Several other companies are making significant contributions to U.S. rare earth production:

American Resources Corporation (NASDAQ: AREC)

American Resources Corporation distinguishes itself by addressing the midstream bottleneck: refining. Through its wholly owned subsidiary, ReElement Technologies, the company operates the only U.S.-based facility capable of economically separating and purifying both heavy and light rare earth elements at scale. (American Resources Corporation and ReElement Technologies (opens in a new tab))

Rare Element Resources Ltd. (OTCQB: REEMF)

Progressing the Bear Lodge Project in Wyoming and partnering with the Department of Energy to advance rare earth processing technologies.

Energy Fuels Inc. (NYSE: UUUU)

Traditionally known as a uranium producer, Energy Fuels is expanding into rare earth processing. Their White Mesa Mill in Utah now processes rare earth carbonate from monazite sand, demonstrating the company’s adaptability.

Texas Mineral Resources Corp. (OTCQB: TMRC)

Based in El Paso, Texas, this company has been exploring rare earth potential since 1970. Their flagship project, Round Top Mountain, is particularly promising, boasting rich deposits of heavy rare earth elements and lithium.

Conclusion

Summary of top companies and their strengths, key investment takeaways, growth potential and risks, and a call to action: “Stay ahead by tracking rare earth market trends and potential opportunities.”

Disclaimer:
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Readers are strongly encouraged to consult with a qualified financial advisor or licensed investment professional before making any trading or investment decisions. Trading stocks involves risk and may not be suitable for all investors. Rare Earth Exchanges, LLC makes no representations or warranties as to the accuracy, completeness, or timeliness of the information provided, and shall not be held liable for any losses, damages, or expenses arising from the use of or reliance on this content. All investments carry risk, including the potential loss of principal.

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