Highlights

• Northern Rare Earth achieved record national output quotas and all-time high production across smelting, metals, and functional materials in 2024.
• Company completed Phase I of 'Green Smelting Upgrade', positioning itself as the world's largest integrated rare-earth producer.
• New integrated trading system and production base signals potential increase in China's rare earth supply chain control and global market influence.

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China’s Nonferrous Metals Industry Association released its 2024 leaderboards for the sector, including the Top 50 by revenue, Top 20 by overseas assets, and Top 30 by net profit. Northern Rare Earth (NRE) says it ranked No. 43 by revenue and No. 30 by net profit, underscoring what it calls steady performance and core competitiveness.

Top Rare Earth Integrated Company

The company—positioning itself as the world’s largest, most integrated rare-earth producer (spanning production, R&D, and trading)—ties the recognition to a broader campaign to build out China’s “two rare-earth bases.” Management claims it has completed the largest, most capable smelting-separation system globally, lifted capacity across the full value chain, and materially strengthened product supply and service.

NRE highlights several 2024 milestones: its share of national output quotas hit a record high; production of smelting & separation, rare-earth metals, and functional materials reached all-time highs; and sales volumes, revenue, and total profit all tracked near the front of the industry pack.

It also reports that Phase I of its “Green Smelting Upgrade” has entered operation, which NRE frames as the world’s largest rare-earth raw-material production base now online. In tandem, the company says it built an integrated price-publishing and online trading system to improve coordination and help keep China’s rare-earth supply chain running smoothly.

Relevance for America and the West?

The update is less about a new deposit and more about scale, process, and market plumbing. If NRE’s Phase I ramp performs as advertised, it implies incremental Chinese supply of separated oxides/metals and tighter operational control (green retrofit + digitalization). The price-publishing/online trading system hints at a more institutionalized domestic pricing mechanism, potentially reinforcing China’s price-setting influence just as the U.S. and allies try to stand up non-Chinese separation and magnet capacity.

For American and allied stakeholders, the signals to track are throughput and product mix from the new base, any export policy shifts, and how NRE’s pricing platform interacts with the state quota system—all of which can affect global availability and margins along the magnet chain.

Source: Northern Rare Earth state-media announcement (opens in a new tab) on CNMIA’s 2024 rankings and NRE’s project/market updates.

Disclaimer: This news item originates from the media of a state-owned entity. The information should be verified by an independent source before making investment or policy decisions.

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