Highlights
- North America is rapidly developing a domestic rare earth element (REE) industry to reduce dependency on international suppliers.
- Multiple companies are investing in this industry, including:
- MP Materials
- Lynas
- USA Rare Earth
- These companies are focused on mining, processing, and magnet production capabilities.
- Government support, particularly from the Department of Defense, is accelerating the development of strategic rare earth resources.
As tensions with China intensify and rare earth supply chains come under renewed scrutiny, North America is racing to build a viable domestic rare earth element (REE) industry spanning mining, processing, and magnet production. While progress has been uneven, a growing ecosystem of producers, developers, and junior explorers is beginning to take shape. Here is a snapshot of key players and projects.
Note the Projects section of Rare Earth Exchanges represents an ongoing development of a database of rare earth and critical minerals mines around the world. We will be adding more and more information to the Projects section, along with ranking criterial in the pipeline.
MP Materials (Mountain Pass, California) – In Production
The only large-scale operational rare earth mine in North America and what we at Rare Earth Exchanges refer to as a national treasure trover” MP Materials (opens in a new tab) produces primarily light rare earths, including neodymium and praseodymium. Although it has historically shipped most of its concentrate to China for processing, the company is now building out domestic separation and magnet-making capacity, supported by a $35 million Department of Defense grant. A heavy rare earth separation facility is also planned, but not yet operational.
Lynas Rare Earths (Texas Processing Facility) – Under Construction
Lynas (opens in a new tab), based in Australia, is constructing a rare earths separation plant in Texas with DoD backing. This facility, expected to be operational by 2026, will process both light and heavy REEs and represents a critical step toward reshoring midstream capacity. Feedstock is expected to come from Lynas’ Mt. Weld mine in Australia, but a U.S. mining component may follow.
U.S. Critical Materials (Sheep Creek, Montana) – Early Exploration
This junior exploration company, known as U.S. Critical Minerals, (opens in a new tab) is developing the Sheep Creek deposit in southwest Montana, which shows promising grades of both light and heavy rare earths, particularly in carbonatite-hosted veins. The project is in its early stages but has attracted investor interest due to the high concentrations of neodymium and dysprosium.
American Rare Earths (Halleck Creek, Wyoming) – Advanced Exploration
With a large,clay-hosted deposit of light rare earths, Halleck Creek has emerged as one of the most promising potential domestic sources outside of Mountain Pass. Led by American Rare Earths (opens in a new tab), preliminary drilling suggests scalable production potential. The geology is similar to Chinese ion-adsorption clays, making it an attractive, low-cost, lower-impact option for future development.
USA Rare Earth (Round Top, Texas) – Pilot Stage
USA Rare Earth (opens in a new tab) holds development rights to the Round Top deposit (opens in a new tab), a polymetallic rare earths and critical minerals resource containing both heavy and light REEs along with lithium and other tech metals. The company has also acquired sintered magnet production assets and aims to establish a vertically integrated mine-to-magnet supply chain. A pilot plant has been constructed in Colorado, with full-scale development pending financing.
Defense Metals Corp. (Wicheeda, British Columbia, Canada) – Feasibility Stage
Though in Canada, Defense Metals’ (opens in a new tab) Wicheeda project (opens in a new tab) is strategically significant to North American supply chains. The project contains high-grade bastnaesite with an emphasis on neodymium-praseodymium oxide (NdPr). Preliminary economic assessments are positive, and the project is advancing toward prefeasibility.
Search Minerals (Labrador, Canada) – Early Development
Focused on the Port Hope Simpson Distric (opens in a new tab)t, Search Minerals (opens in a new tab) is developing rare earth deposits rich in NdPr and dysprosium. The company is working to secure funding for pilot-scale processing and has engaged with U.S. and Canadian government partners for strategic collaboration.
Final Thoughts
North America is entering a critical phase of rare earth development. While MP Materials remains the only full-scale producer, the combination of DoD-backed deals (Lynas), vertically integrated visionaries (USA Rare Earth), and a swarm of junior explorers (American Rare Earths, U.S. Critical Materials, Defense Metals) marks a significant shift from dependency to action. Still, the midstream and downstream remains the Achilles’ heel—without scaled-up separation and refining facilities, even successful mines risk falling into China’s processing orbit.
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