Neodymium
A light rare earth element and the backbone of high-performance NdFeB permanent magnets.
Why it matters
Permanent magnets convert electricity to motion. Neodymium is the single most important input to electrified motion.
Supply and sustainability
- Applications
- EV traction motors, Wind turbine generators, Robotics and actuators, Hard drives and speakers, Defence systems
- Supply risk
- High. Separation and magnet manufacture, not mining, are the constrained steps.
- Geopolitics
- China controls the overwhelming majority of separation capacity and finished magnet production.
- Substitutes
- Ferrite magnets and rare-earth-free motor designs exist but cost torque density and efficiency.
- Recycling
- Low today. Magnet-to-magnet recycling is technically proven and commercially nascent.
- Sustainability
- Separation generates large volumes of process waste; some legacy operations carry radioactive tailings issues.
- Forecast
- NdPr demand roughly doubles by 2035 on EV and wind build-out; ex-China magnet capacity is the key variable.
- Key countries
- 5 tracked producer and processing roles
Earthern Strategic Score 94
Version v0.1
- Demand Outlook
- 97 (weight 1.2) — Projected demand growth relative to the broader mineral economy over the next decade.
- Supply Risk
- 89 (weight 1.2) — Likelihood of supply falling short of demand, accounting for project pipeline and lead times.
- Geographic Concentration
- 96 (weight 1) — How concentrated mining and processing are across countries and companies.
- Geopolitical Risk
- 94 (weight 1) — Exposure to export controls, sanctions and jurisdictional instability.
- Technology Importance
- 99 (weight 1.1) — How central the mineral is to strategically important technologies.
- Strategic Importance
- 94 (weight 1) — Recognition in national critical mineral lists and defence supply chains.
- Substitutability
- 87 (weight 0.8) — How readily the mineral can be replaced without material performance loss. Higher is harder to substitute.
- Recycling Potential
- 90 (weight 0.7) — Ability of secondary supply to relieve primary demand. Higher means less relief available.
Mines, projects and refineries
Bayan Obo
The largest rare earth deposit in the world, mined alongside iron ore.
refinery · MalaysiaLynas Advanced Materials Plant
The largest rare earth separation facility outside China.
processing · AustraliaLynas Kalgoorlie Facility
A cracking and leaching plant that moves the first processing stage onshore in Australia.
mine · AustraliaMount Weld
One of the highest-grade rare earth deposits in the world, feeding Lynas separation capacity.
mine · United StatesMountain Pass
The only operating rare earth mine in the United States and the anchor of domestic magnet ambitions.
processing · United StatesMP Independence Magnetics Facility
A US NdFeB magnet manufacturing facility completing a domestic rare earth loop.
deposit · SwedenPer Geijer
The largest identified rare earth deposit in Europe, adjacent to existing iron ore operations.
Related intelligence
Heavy rare earth separation, not mining, remains the bottleneck
Western rare earth strategy has focused on deposits. The constraint has always been further down the chain.
Jun 17, 2026How far can Europe get toward rare earth independence?
Europe has deposits, low-carbon power and magnet demand. It lacks separation.
Related minerals
Dysprosium
A heavy rare earth added to magnets to preserve performance at high operating temperatures.
Rare EarthsTerbium
A scarce heavy rare earth used in high-temperature magnets and phosphors.
Rare EarthsPraseodymium
A light rare earth usually produced and traded jointly with neodymium as NdPr oxide.