- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Ora Gold Limited
Alvopetro Energy
Silver Crown Royalties
Melodiol Global Health
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
ASX Rare Earths Stocks: 5 Biggest Companies
China is known for its dominance of the rare earths market, but Australian companies are making moves in the sector. Here's a look at the five biggest rare earths stocks on the ASX by market cap.
![different types of rare earth metals laid out over black surface](https://investingnews.com/media-library/different-types-of-rare-earth-metals-laid-out-over-black-surface.jpg?id=32127450&width=1200&height=800&quality=80&coordinates=0%2C90%2C0%2C90)
Prices and demand for rare earths took a hit in 2023, and have remained lower this year on China's over production. However, the long-term outlook remains positive.
Rare earth elements (REEs) are key metals for high-tech applications, including permanent magnets, which have widespread potential, especially in the technology and electric vehicle sectors.
With future demand looking strong, countries around the world are keen to secure rare earths from sources outside of China — which is good news for rare earths companies in Australia. Indeed, looking at the next couple of decades, the International Energy Agency notes that rare earths demand could increase by up to seven times by 2040.
For investors interested in getting a foot in the market, below is a list of the largest ASX rare earths stocks by market cap. Data for this stocks list was collected using TradingView's stock screener on July 22, 2024.
1. Lynas Rare Earths (ASX:LYC)
Market cap: AU$5.702 billion; share price: AU$6.05
Lynas Rare Earths is Australia's largest rare earths miner, as well as the only significant rare earth materials producer in the world outside of China. Focused on integrated delivery, Lynas is a miner and supplier of high-grade rare earths. According to the company, its Mount Weld asset in Western Australia is one of the highest-grade rare earths mines in the world.
During its March 2024 quarter, Lynas reported production of neodymium and praseodymium (NdPr) at 1,724 tonnes. Its total rare earth oxide production reached 3,545 tonnes during the same period. In June, the company announced that its Lynas Malaysia facility is on track to commence first production of two separated heavy rare earths products, dysprosium (Dy) and terbium (Tb), in 2025.
2. Iluka Resources (ASX:ILU)
Market cap: AU$2.731 billion; share price: AU$6.16
Iluka Resources has decades of experience in the mining industry, mostly in the production of zircon and high-grade titanium-dioxide-derived rutile and synthetic rutile. However, in recent years, it has developed a rare earths portfolio.
At its Eneabba operation in Western Australia, Iluka has a strategic monazite-rich mineral stockpile that it plans to extract and process. The company is currently working on a feasibility study for a fully integrated rare earths refinery at Eneabba, which would produce separated rare earth oxides from its own feedstock and potentially from third-party feedstock as well. Construction will start once earthworks have been completed, with first production at the refinery expected in 2025.
Iluka’s Wimmera project in Victoria, Australia, also has the potential to be a long-term supplier of zircon and rare earths. Following a preliminary feasibility study conducted at Wimmera, the company's board approved AU$30 million in funding for a definitive feasibility study. Iluka expects to complete the study in the first half 0f 2025.
3. Brazilian Rare Earths (ASX:BRE)
Market cap: AU$710.03 million; share price: AU$2.85
Brazilian Rare Earths is advancing its district-scale Rocha da Rocha rare earth province in the state of Bahia, Brazil. The 1,410 square kilometers of mining claims are highly prospective for both heavy and light rare earths, with grades of over 40 percent total rare earth oxides (TREO) found.
The company’s exploration campaigns have identified three styles of rare earth mineralisation across the project area, including high grade rare earth elements niobium and scandium source rock; shallow high-grade monazite sands; and ionic clay rare earth mineralisation.
Brazilian Rare Earths’ current JORC mineral resource estimate for Rocha da Rocha stands at 510 Mt a 1,513ppm TREO. This includes the high-grade Monte Alto project with monazite sand rare earth resource of 25.2 Mt at 1 percent TREO, with a higher-grade core of shallow, free dig resource of 4.1 Mt at 3.2 percent TREO.
The company is working toward completing an updated JORC mineral resource estimate for the district play this year.
4. Arafura Rare Earths (ASX:ARU)
Market cap: AU$427.406 million; share price: AU$0.19
Arafura Rare Earths is advancing its Nolans NdPr project in Australia's Northern Territory, and is currently in the midst of construction. Arafura has plans for Nolans to be a vertically integrated NdPr operation with processing facilities on site. According to the company, the Nolans project will supply around 4 percent of global NdPr oxide demand once complete.
The company has signed an offtake agreement with Siemens Gamesa Renewable Energy that commences in 2026. The deal guarantees a five year contract under which Arafura will supply Siemens Gamesa with NdPr from Nolans. The supply deal will kick off at 200 tonnes for the first year, before increasing over time as the project reaches nameplate production. According to Arafura's latest quarterly report, the Nolans project is shovel ready, with construction set to commence once funding is secured.
5. Northern Minerals (ASX:NTU)
Market cap: AU$200.97 million; current share price: AU$0.031
Northern Minerals is a rare earths company based in Australia. It is focused on developing its Browns Range dysprosium-terbium project in Western Australia and bringing the project's Wolverine deposit into production. Northern Minerals has a long-term supply agreement with Iluka Resources.
Northern Minerals is developing Browns Range through a three stage system, and the project has already been producing heavy rare earth carbonate since 2018. The company is now working on a definitive feasibility study for a commercial-scale mining operation and beneficiation plant at Browns Range that will respectively extract and process ore from Wolverine.
Northern Minerals is on track to complete a definitive feasibility study in the fourth quarter of this year with a final investment decision expected in the following quarter. The company is targeting first production in Q4 2027.
FAQs for ASX rare earths stocks
What are rare earths?
Rare earths are a category of elements that share many chemical properties. In fact, all but two — yttrium and scandium — are also called lanthanides. These elements are commonly found in the same deposits and are necessary for diverse technological applications such as rare earth magnets.
In total there are 17 rare earth elements, and they are split into light and heavy rare earths, with each segment being grouped together on the periodic table. On the light side, there are cerium, lanthanum, praseodymium, neodymium, promethium, europium, gadolinium and samarium, and on the heavy side there are dysprosium, yttrium, terbium, holmium, erbium, thulium, ytterbium, yttrium and lutetium.
Which countries have the most rare earths?
In terms of both rare earths reserves and rare earths production, China is the frontrunner by a long shot, with 44 million tonnes of reserves and 240,000 tonnes of production in 2023. However, Vietnam, Brazil and Russia all have reserves above 10 million tonnes. With regards to production, the US is in second place at 43,000 tonnes due to the Mountain Pass mine in California, and Myanmar is in third place with 38,000 tonnes.
What makes rare earths rare?
Rare earths are actually relatively abundant in the Earth's crust, contrary to what their name suggests. However, they're quite dispersed instead of being found concentrated in specific areas, which means locating economic deposits to mine is difficult.
As China controls much of global rare earths production, many countries have deemed them critical minerals and are prioritizing supply chain security.
Article by Matthew Flood; FAQs by Lauren Kelly.
This is an updated version of an article originally published by the Investing News Network in 2018.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Matthew Flood, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
- Rare Earth Metals: Heavy vs. Light (Updated 2024) ›
- Rare Earths Market Forecast: Top Trends That Will Affect Rare Earths in 2024 ›
- Rare Earths Stocks: 8 Biggest Companies in 2024 ›
- Top 3 Canadian Rare Earths Stocks ›
- How to Invest in Rare Earths ›
- Rare Earths Reserves: Top 8 Countries ›
- Top 10 Countries for Rare Earth Metal Production ›
Lauren gained her education through Douglas College’s Professional Writing program and SFU’s Editing certificate program. She spent many years at Douglas' student newspaper, including a term as Editor-in-Chief. Now nearing five years as part of the INN team, she is passionate about delivering accurate and informative content to investors.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.
Matthew Flood is a writer and editor from Montreal, Canada. He's been writing professionally for four years on a wide array of topics ranging from investments and real estate to cookware and home improvement. Matt also enjoys creative writing and has written two novels and a novella.
Learn about our editorial policies.
Lauren gained her education through Douglas College’s Professional Writing program and SFU’s Editing certificate program. She spent many years at Douglas' student newspaper, including a term as Editor-in-Chief. Now nearing five years as part of the INN team, she is passionate about delivering accurate and informative content to investors.
Learn about our editorial policies.