🔒 = Subscription Required – Coming Late 2025 • Last Updated: 27 May 2025
Key REEx LREE Ranking Notes:
Purpose of Ranking
Our ranking prioritizes what would likely be the safest and most profitable NdPr projects for investment from a Western perspective. This takes into account:
- Geopolitical risk and jurisdictional stability
- Project development stage and timeline to production
- Deposit size and scale
- Mineralogical complexity and processing viability (cost, stage, and impurity profile)
Project Selection
Where a company has multiple deposits or development phases, we include only the producing asset (or the next expected to enter production). This approach excludes long-dated or less-certain resources that currently contribute little to near-term NPV.
Exclusion Criteria
Some entities are involved in NdPr production but are excluded from this ranking if they do not own or operate a dedicated rare earth ore deposit (e.g., those refining third-party feedstock only).
Weighting Methodology
The most heavily weighted categories are:
- Mineralogy (incl. type, impurities, stage, cost)
- Project Stage
- Country Risk / Geopolitics
LREE Rankings – Explanation of Categories
At Rare Earth Exchanges (REEx), we’ve developed a proprietary scoring system to rank the global Light Rare Earth Element (LREE) Project/Deposits based on a set of criteria aimed at assessing the most secure and economically viable investment opportunities — particularly for ex-China stakeholders.
| Ranking Category | Sub Category | Explanation |
|---|---|---|
| Deposit Location | n/a | Based on country stability, regulatory environment, and general infrastructure. |
| Project Stage | n/a | Production – Operational mine. Proven ability to extract, process, and sell product. Major risks are resolved, with infrastructure, permitting, and financing in place. Construction – Within ~5 years of production. Key milestones like financing and permitting are secured. Risks include delays, cost overruns, and commissioning challenges. Development – Typically 5–15 years from production. Feasibility studies may exist, but no Final Investment Decision (FID). Risks include permitting, financing, off-take, and execution. Exploration – Early-stage. Limited geological understanding and unproven commercial viability. High risk; long lead time to potential production. Care and Maintenance – Previously active or advanced projects now paused. Future viability uncertain due to market, technical, or regulatory issues. Cancelled – No longer considered viable. Removed from future supply plans unless major conditions change. |
| Mineralogy | Mineral Type | Ease of processing mineral. Monazite typically easier; bastnaesite moderate; xenotime, others harder. |
| Mineralogy | Impurities | Score based on complexity of impurities and treatment needs. Ie Radiation. |
| Mineralogy | Processing Stage | Processing maturity – from Exploration, Concept, PEA, PFS, DFS, FEED to fully operational processing plants. |
| Mineralogy | Capex/Opex Cost | Cost implications of processing route. Lower = cleaner, simpler metallurgy. |
| ESG | Environmental | Energy, emissions, water, land impact, and processing method. |
| ESG | Social | Free, Prior and Informed Consent (FPIC), labor, local employment and training. |
| ESG | Governance | Transparency, ownership clarity, board diversity. |
| LREE Deposit | n/a | Calculated from resource grades, tonnage, and recovery assumptions, TREO%, Tb4O7 and Dy2O3 % – normalized. |
| Production Capacity | (tpa) | Projected/name plate capacity in tonnes per annum of either oxide, carbonate or concentrate. May be modelled, announced, or estimated based on mine life and size of deposit. |
| Production Capacity | Type | Oxide, Concentrate or Carbonate |
| Production Capacity | Oxide Production | If the oxide produced was processed in China or ex-China. |
Data Accuracy
We’ve used best endeavours to source and verify all information from company reports, public filings, and industry sources. If you believe any detail is incorrect or outdated, please contact us at: john@rareearthexchanges.com
Disclaimer
This ranking is an editorial and analytical tool, not financial advice. All investments carry risk, and individual due diligence is essential.
Legal Notice & Copyright
© 2025 Rare Earth Exchanges, LLC. All rights reserved. This ranking, its underlying data, scoring methodology, and visual presentation are the intellectual property of Rare Earth Exchanges (REEx). You may not reproduce, distribute, or republish this content without explicit written permission. The information presented is for informational purposes only and does not constitute financial, investment, or legal advice. While we aim to ensure accuracy, REEx makes no warranties or guarantees, express or implied, as to the completeness or reliability of the data. Use of this material is at your own risk. Always perform your own due diligence or consult a licensed financial advisor before making investment decisions.