What Are Rare Earths & Why They Matter?

Rare earth elements (REEs) are a group of 17 metallic elements that are critical to advanced modern technology and the green energy transition owing to their unique magnetic, electronic, catalytic, and luminescent properties. Although relatively abundant in the Earth’s crust, they are rarely found in economically concentrated deposits, and their extraction and processing are technically complex.

Among the most strategically important rare earths are neodymium (Nd) and praseodymium (Pr), which are essential for high-strength permanent magnets used in electric vehicle motors, wind turbines, robotics, consumer electronics, and advanced defence systems.

As global economies electrify the demand for rare earths is rising sharply, due to their wide-ranging uses in many critical modern technologies.

Global Supply

Despite their importance, global supply is highly concentrated. China dominates rare earth mining, and processing and separation capacity by a wide margin. China’s current annual production is higher than all other countries combined, fuelled by the giant Bayan Obo Mine which contains an estimated 40Mt grading at 3 – 5.4% REE. China further dominates rare earth processing and refining capacity, contributing over 90% of global totals, and holds almost double the total of all other global reserves.

These factors have allowed China the monopoly over global rare earth and magnet supply chains which has created mounting geopolitical and supply chain pressure. Added to this, in recent years, China introduced export restrictions in a bid to curtail stockpiling and impose control over global markets.

The demand for NdPr magnet materials is projected to grow significantly over the coming years, and therefore rare earth supply chain security has become a strategic priority for many nations, prompting hefty investment in emerging new mining projects, downstream processing facilities, and supply chain diversification strategies.

These factors have allowed China the monopoly over global rare earth and magnet supply chains which has created mounting geopolitical and supply chain pressure. Added to this, in recent years, China introduced export restrictions in a bid to curtail stockpiling and impose control over global markets.

The demand for NdPr magnet materials is projected to grow significantly over the coming years, and therefore rare earth supply chain security has become a strategic priority for many nations, prompting hefty investment in emerging new mining projects, downstream processing facilities, and supply chain diversification strategies.

Significant & Emerging Projects

The global rare earth landscape is undergoing a dramatic transformation, with major projects reshaping supply chains and challenging long-standing dominance.

In the United States, the Mountain Pass Mine stands as the leading producer in the Western Hemisphere, second only to China’s Bayan Obo globally. In Australia, Mt Weld ranks as the world’s third-largest rare earth producer, while the Nolan’s Bore Project is rapidly advancing toward becoming a fully integrated mining and processing hub. Designed to deliver high-purity NdPr oxide to the global market, Nolan’s Bore represents a strategic step toward diversified, secure supply outside China.

But perhaps the most exciting developments are unfolding in Africa, which is rapidly emerging as a powerhouse in the rare earth sector.

Africa hosts some of the world’s highest-grade and largest undeveloped rare earth deposits, positioning the continent as a critical future supplier.

Kangankunde in Malawai is currently the world’s largest undeveloped rare earth project, containing reserves of 23.7Mt grading 2.9% TREO it is scheduled to come into production in 2026, it represents a cornerstone asset in diversifying global supply. Closely behind is the Longonjo Project in Angola, containing reserves of 21.54 Mt grading 3.04% TREO, targeting first production in 2027.

The Ngualla Project in Tanzania stands out as one of the highest-grade rare earth deposits globally. With proven and probable reserves of 18.5Mt grading an impressive 4.80% TREO it shares many geological similarities with Teufelskuppe including comparable grade.

Africa is entering a broader rare-earth renaissance, government’s across the continent are  strengthening mining legislation and regulatory frameworks, encouraging downstream beneficiation and regulatory frameworks and investing in infrastructure to unlock remote deposits.

Namibian Projects Rare Earth Importance

Amongst this backdrop, the Namibian projects become strategically important. The Teufelskuppe project is rich in NdPr and features a high-grade core of structurally controlled plugs and dykes, like Ngualla. The Teufelskuppe project is exceptionally high-grade, returning a maximum average grade of 4.47% TREO from the central core, and a total average TREO grade of 3.12%, placing it amongst the highest grade REE projects globally and significantly ahead of neighbouring Namibian projects, such as Namibia’s flagship Lofdal project, which contains 2025 NI 43-101 proven and probable reserves of 32Mt grading 0.176% TREO (containing 56,341t TREO).

The Teufelskuppe project represents an attractive mining opportunity. Approximately 4Mt of mineralisation exposed within a 1km wide, circular topographic feature, and work to date indicates a potential maiden mineral resource of 160Kt TREO, inclusive of 40Kt of high-value NdPr. Conceptual preliminary mine designs include a high-grade (4.34% TREO) starer pit, and due to its structural emplacement, grade is expected to continue with depth. The project boasts substantial resource upside potential leading to a potential Tier 1 project, which will be tested during resource development drilling.

Mineralogy studies suggest easy processing by established industry methods and environmental considerations suggest low levels of harmful by-products such as uranium and thorium.