[News] China Controls 70% of Global Rare Earth Output—Meet the Top 10 Suppliers Behind It

After the U.S.-China tariff war, China stepped up control over rare earth metal exports. According to UDN News, Ministry of Commerce of The People’s Republic of China announced on June 7 that it is reviewing export license applications for rare earth-related items in accordance with laws and regulations. The ministry said it has approved several compliant applications and will continue reviewing future requests.

As TechNews notes, China holds about 40% of global rare earth reserves and accounts for nearly 70% of global production—particularly in heavy rare earths. These elements are vital to modern technologies and strategic sectors such as defense, aerospace, electronics, and electric vehicles (EVs). Below is a list of China’s top ten rare earth companies, according to TechNews, citing Wire Screen.

1. Inner Mongolia Baotou Steel Union Company Limited

Registered capital: RMB 45.4B

Incorporated: 1999

Originally founded in 1954 and based in Baotou, Inner Mongolia, the company produces and sells steel products and rare earth concentrates. Its subsidiary, Baoshan Mining, is one of the world’s largest rare earth production bases. Key products include thin and rolled plates, heavy axles, large trough steel, and club materials.

2.  China Northern Rare Earth (Group) High-Tech Company Limited

Registered capital: RMB 3.62B

Incorporated: 1997

Northern Rare Earth operates the world’s largest production base for rare earth raw materials and a major hub for functional materials. Its products include rare earth salts, magnetic metals, and application materials used in power batteries and LED lamp beads.

3. China Rare Earth Group

Registered capital: RMB 100M

Incorporated: 2021

Formed through the merger of major mining and metallurgical organizations, China Rare Earth Group was established as part of China’s industry consolidation efforts. The company focuses on resource development, smelting and separation, deep processing, and rare earth trade. As Wire Screen notes, it now directly owns two listed subsidiaries: China Rare Earth Resources and Technology, and Rising Nonferrous Metals Share.

4. Guangdong Rare Earth Industry Group Company Limited

Registered capital: RMB 1B

Incorporated: 2014

Previously an indirect wholly owned subsidiary of Guangdong Rising, the company was transferred to China Rare Earth Group in January 2024. Control shifted from the Guangdong provincial government to China Rare Earth Group. It focuses on investment, R&D, operations, and trading of rare earth products and rare metals.

5. Xiamen Tungsten Corporation

Registered capital: RMB 1.42B

Incorporated: 1997

Xiamen Tungsten is one of China’s leading rare earth conglomerates. As Wire Screen indicates, it produces battery materials and is involved in the smelting, processing, and distribution of metal products.

6. Shenghe Resources Holding Company Limited

Registered capital: RMB 1.75B

Incorporated: 1998

A global producer and supplier of rare earths and related products, including concentrates, compounds, metals, metallurgical materials, and titanium concentrate, the company has operations in the U.S., Southeast Asia, Greenland, Tanzania, and Australia, according to Wire Screen. Its overseas assets include a 7.7% stake in MP Materials, 90% of Vietnam Rare Earth, and 9.4% of Greenland Minerals Limited.

7. Rising Nonferrous Metals Share Co., Ltd.

Registered capital: RMB 336.44M

Incorporated: 1993

A state-owned enterprise involved in nonferrous metals mining, processing, logistics, and resource exploration. It holds all of the rare earth mining licenses in Guangdong and owns three mining firms, four separation companies, five application firms, and one trading company. It controls over 120,000 tons of medium and heavy rare earth resources, as Wire Screen undersocres.

8. China Southern Rare Earth Group Company Limited

Registered capital: RMB 752.85M

Incorporated: 2015

A wholly owned subsidiary of China Rare Earth Group, the company integrates raw ore mining, smelting and separation, recycling, advanced processing, R&D, and technical services.

9. GRINM Advanced Materials Company Limited

Registered capital: RMB 846.55M

Incorporated: 1999

Specializing in R&D and production of advanced materials, the company’s portfolio includes rare earths, thin-film materials for micro-optoelectronics, biomedical materials, infrared optics, and optoelectronic components. Screen Wire notes that it is a key player in China’s nonferrous new materials industry.

10. Hengdian Group DMEGC Magnetics Company Limited

Registered capital: RMB 1.63B

Incorporated: 1999

The world’s largest producer of ferrite permanent magnets and soft magnetic materials. DMEGC also manufactures photovoltaic and lithium battery components and is a major solar manufacturer in China. As noted in the report, clients include Brose, Panasonic, Cooper, Nidec, and Tesla.

Read more

• [News] China Greenlights First Rare Earth Exports to South Korea Under New Controls, Yet 45-Day Delays Remain
• [News] China’s Rare Earth Curbs Puts EV Industry on Alert as Magnet Supplies Could Be Depleted Soon

(Photo credit: GRINM Advanced Materials)