# Critical-Minerals.si — full text for AI assistants

> Independent visual database of 72 critical minerals: government list status, country production, supply-chain concentration by step (mine → refining → metal → product), AI-infrastructure relevance, and the public companies exposed to each. Data as of 2026-10-09.

Terms: free to read, quote and cite with attribution to Critical-Minerals.si (https://critical-minerals.si). Bulk redistribution or resale requires permission (https://critical-minerals.si/data#terms). Structured data: https://critical-minerals.si/data/index.json

# Lithium (Li)

> The lightest metal and the heart of every lithium-ion battery — from phones and EVs to the grid-scale storage now being bolted onto data centers.

Source page: https://critical-minerals.si/minerals/lithium · JSON: https://critical-minerals.si/data/minerals/lithium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Structural deficit. IEA projects a lithium supply deficit persisting through 2035, and prices more than doubled between January 2025 and April 2026 on energy-storage demand.
- Supply risk index: 60/100
- Top producer (2025): Australia (32%); China's share: 21%
- US net import reliance: >50%; main import sources: Chile, Argentina
- On 10 of 10 government critical-mineral lists
- AI relevance: 2/3 (Backup & storage, Power & grid). Lithium-ion UPS and battery energy storage systems (BESS) keep AI campuses running through outages and let operators shave peak grid demand. Data centers are increasingly paired with on-site storage to secure interconnection.
- Export controls: China — Export licensing (2025); Zimbabwe — Lithium ore export ban (2022); Namibia — Ore & concentrate export ban (2023)

## Supply chain by step
- Mining (Spodumene ore and brine): China 21%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0). IEA: over 65% of new African lithium mining capacity is owned by companies headquartered in China.
- Refining (Lithium chemicals (carbonate and hydroxide)): China 75%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 141. Up from 70% in 2024.
- Cathode material (Cathode active material (all chemistries)): China ~85%, 2025 — IEA, Global EV Outlook 2026: manufacturing and trade (CC BY 4.0). China produced 98% of LFP cathode material and about two-thirds of nickel-based cathode material in 2025 (IEA GCMO 2026, p. 72).
- Battery cells (Lithium-ion battery cells): China ~80%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 72. IEA's Global EV Outlook 2026 puts China at over 80% of battery cell production in 2025.

Processing gap: +64 percentage points (China 21% at mining → 85% at cathode material). This is separate from the supply risk index.
Most concentrated step: Cathode material (China 85%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| Australia | 82700 | 92000 | 32% | 8400000 |
| China | 41400 | 62000 | 21% | 4600000 |
| Chile | 48900 | 56000 | 19% | 9200000 |
| Zimbabwe | 20000 | 28000 | 10% | 500000 |
| Argentina | 13800 | 23000 | 8% | 4400000 |
| Brazil | 10200 | 12000 | 4% | 540000 |
| Mali | 770 | 9400 | 3% | 370000 |
| Canada | 4820 | 5600 | 2% | 1600000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): strategic
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Zijin Mining (601899.SS) — producer, major, HQ CN
- VanEck Rare Earth & Strategic Metals ETF (REMX) — etf, fund, HQ US
- Albemarle (ALB) — producer, major, HQ US; US: Silver Peak lithium brine (NV) and Kings Mountain (NC)
- SQM (SQM) — producer, major, HQ CL
- PLS Group (Pilbara Minerals) (PLS.AX) — producer, mid-tier, HQ AU
- Lithium Americas (LAC) — developer, junior, HQ CA; US: Thacker Pass lithium mine, Nevada (under construction)
- Ganfeng Lithium (002460.SZ) — producer, major, HQ CN
- Tianqi Lithium (002466.SZ) — producer, major, HQ CN
- Global X Lithium & Battery Tech ETF (LIT) — etf, fund, HQ US
- Sprott Lithium Miners ETF (LITP) — etf, fund, HQ US
- Rio Tinto (RIO) — major, major, HQ GB; US: Kennecott copper (UT), Boron (CA) and 55% of Resolution Copper (AZ)
- Sprott Critical Materials ETF (SETM) — etf, fund, HQ US
- ioneer (IONR) — developer, junior, HQ AU; US: Rhyolite Ridge lithium-boron project, Nevada (permitted, pre-construction)
- Standard Lithium (SLI) — developer, junior, HQ CA; US: South West Arkansas lithium brine project (feasibility stage)
- American Battery Technology (ABAT) — processor, junior, HQ US; US: Battery recycling plant near Reno and Tonopah Flats lithium project, Nevada

## Sources
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- IEA Global Critical Minerals Outlook 2026 — Outlook: https://www.iea.org/reports/global-critical-minerals-outlook-2026/outlook
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Lithium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/lithium. Research and education only; not investment advice.

---

# Cobalt (Co)

> A battery cathode and superalloy metal. About three-quarters of mined supply comes from the Democratic Republic of the Congo.

Source page: https://critical-minerals.si/minerals/cobalt · JSON: https://critical-minerals.si/data/minerals/cobalt.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Structural deficit. The DRC's export quota (96,600 t/yr for 2026–27, under half of 2024 output) widened IEA's projected cobalt gap from ~15% to over 25%; prices rose ~130%.
- Supply risk index: 63/100
- Top producer (2025): DR Congo (74%); China's share: 1%
- US net import reliance: 79%; main import sources: Norway, Finland, Canada, Japan
- On 10 of 10 government critical-mineral lists
- AI relevance: 2/3 (Backup & storage, Chips & fabs, Power generation). Used in high-energy battery cathodes for backup power, in superalloys for gas turbines that power off-grid data centers, and — in tiny amounts — as an interconnect and liner material in advanced chips.
- Export controls: DR Congo — Export quota (2025); concentrate export ban (Aug 2026)

## Supply chain by step
- Mining (Copper-cobalt and nickel-cobalt ore): China 1%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0). Chinese companies such as CMOC operate major DRC mines. Shares are by country where production happens, not who owns it.
- Refining (Refined cobalt chemicals and metal): China >75%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 162
- Cathode material (Cathode active material (all chemistries)): China ~85%, 2025 — IEA, Global EV Outlook 2026: manufacturing and trade (CC BY 4.0). China produced 98% of LFP cathode material and about two-thirds of nickel-based cathode material in 2025 (IEA GCMO 2026, p. 72).
- Battery cells (Lithium-ion battery cells): China ~80%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 72. IEA's Global EV Outlook 2026 puts China at over 80% of battery cell production in 2025.

Processing gap: +84 percentage points (China 1% at mining → 85% at cathode material). This is separate from the supply risk index.
Most concentrated step: Cathode material (China 85%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| DR Congo | 226000 | 230000 | 74% | 6000000 |
| Indonesia | 35000 | 44000 | 14% | 760000 |
| Russia | 8000 | 7700 | 2% | 800000 |
| Madagascar | 3100 | 3900 | 1% | 100000 |
| Australia | 4780 | 3700 | 1% | 1700000 |
| Philippines | 3100 | 3700 | 1% | 260000 |
| Canada | 3350 | 3500 | 1% | 220000 |
| Papua New Guinea | 2630 | 2800 | 1% | 84000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): strategic
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Korea Zinc (010130.KS) — processor, major, HQ KR; US: Planned critical-metals smelter in Clarksville, Tennessee
- Umicore (UMI.BR) — processor, mid-tier, HQ BE
- CMOC Group (603993.SS) — producer, major, HQ CN
- Glencore (GLEN.L) — major, major, HQ CH
- American Battery Technology (ABAT) — processor, junior, HQ US; US: Battery recycling plant near Reno and Tonopah Flats lithium project, Nevada
- Talon Metals (TLOFF) — developer, junior, HQ CA; US: Tamarack nickel-copper project, Minnesota

## Sources
- IEA Global Critical Minerals Outlook 2026 — Outlook: https://www.iea.org/reports/global-critical-minerals-outlook-2026/outlook
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- Rio Times — DR Congo cobalt quotas & concentrate ban (Aug 2026): https://www.riotimesonline.com/dr-congo-cobalt-export-quotas-2026/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Cobalt — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/cobalt. Research and education only; not investment advice.

---

# Nickel (Ni)

> Stainless steel's key ingredient and a high-energy battery cathode metal. Indonesia now produces roughly two-thirds of the world's mine supply.

Source page: https://critical-minerals.si/minerals/nickel · JSON: https://critical-minerals.si/data/minerals/nickel.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. IEA sees only a slight supply gap in its base case, but virtually all recent supply growth has come from one country (Indonesia).
- Supply risk index: 43/100
- Top producer (2025): Indonesia (67%); China's share: 3%
- US net import reliance: 41%; main import sources: Canada, Norway, Australia, Brazil
- On 10 of 10 government critical-mineral lists
- AI relevance: 1/3 (Cooling & thermal, Backup & storage, Power generation). Stainless steel for cooling loops and racks, nickel-based superalloys in turbines, and nickel-rich battery chemistries for backup storage.
- Export controls: Indonesia — Nickel ore export ban (2020)

## Supply chain by step
- Mining (Nickel ore (laterite and sulphide)): China 3%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Refining (Refined nickel and intermediates): data, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 153. Indonesia leads refining; the IEA does not state China's share of this step. Shares are by country where production happens, not who owns it.
- Battery-grade chemical (Nickel sulphate): China 75%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 151. Indonesia exports intermediates such as MHP to China for further refining.
- Cathode material (Nickel-based cathode material (NMC/NCA)): China ~67%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 72

Processing gap: +72 percentage points (China 3% at mining → 75% at battery-grade chemical). This is separate from the supply risk index.
Most concentrated step: Battery-grade chemical (China 75%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| Indonesia | 2310000 | 2600000 | 67% | 62000000 |
| Philippines | 354000 | 270000 | 7% | 4800000 |
| Russia | 205000 | 200000 | 5% | 8300000 |
| Canada | 125000 | 140000 | 4% | 2200000 |
| New Caledonia | 116000 | 140000 | 4% | 7100000 |
| China | 115000 | 120000 | 3% | 4400000 |
| Brazil | 67500 | 70000 | 2% | 16000000 |
| Australia | 98000 | 45000 | 1% | 25000000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): strategic
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- First Quantum Minerals (FQVLF) — producer, major, HQ CA
- Umicore (UMI.BR) — processor, mid-tier, HQ BE
- Glencore (GLEN.L) — major, major, HQ CH
- Vale (VALE) — major, major, HQ BR
- BHP Group (BHP) — major, major, HQ AU; US: 45% of the Resolution Copper project, Arizona (development)
- American Battery Technology (ABAT) — processor, junior, HQ US; US: Battery recycling plant near Reno and Tonopah Flats lithium project, Nevada
- Talon Metals (TLOFF) — developer, junior, HQ CA; US: Tamarack nickel-copper project, Minnesota

## Sources
- IEA Global Critical Minerals Outlook 2026 — Outlook: https://www.iea.org/reports/global-critical-minerals-outlook-2026/outlook
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Nickel — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/nickel. Research and education only; not investment advice.

---

# Graphite (C)

> The anode in nearly every lithium-ion battery, plus electrodes for steelmaking. China mines ~78% and refines over 90% of battery-grade material.

Source page: https://critical-minerals.si/minerals/graphite · JSON: https://critical-minerals.si/data/minerals/graphite.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. China added graphite anode materials to export controls in Oct 2025; IEA estimates a full disruption would put >$300B/yr of downstream production outside China at risk.
- Supply risk index: 87/100
- Top producer (2025): China (78%); China's share: 78%
- US net import reliance: 100%; main import sources: China, Canada, Mozambique, Mexico
- On 10 of 10 government critical-mineral lists
- AI relevance: 2/3 (Backup & storage, Cooling & thermal). Battery anodes for UPS and storage systems; synthetic graphite also forms heat spreaders and thermal-interface sheets inside servers and GPUs.
- Export controls: China — Export licensing (2023); Namibia — Ore & concentrate export ban (2023); Mozambique — Graphite trade restrictions

## Supply chain by step
- Mining (Natural flake graphite): China 78%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0). IEA puts China at 80% of mined graphite in 2025, falling to 53% by 2035 as new mines open.
- Purification (Battery-grade (spherical, purified) graphite): China 94%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 172. Includes synthetic graphite. The IEA projects only a small decline, to 91%, by 2035.
- Anode material (Anode active material): China >90%, 2025 — IEA, Global EV Outlook 2026: manufacturing and trade (CC BY 4.0)
- Battery cells (Lithium-ion battery cells): China ~80%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 72. IEA's Global EV Outlook 2026 puts China at over 80% of battery cell production in 2025.

Processing gap: +16 percentage points (China 78% at mining → 94% at purification). This is separate from the supply risk index.
Most concentrated step: Purification (China 94%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 1270000 | 1400000 | 78% | 100000000 |
| Madagascar | 85000 | 80000 | 4% | 27000000 |
| Tanzania | 27000 | 75000 | 4% | 18000000 |
| Brazil | 58000 | 65000 | 4% | 74000000 |
| Mozambique | 39000 | 60000 | 3% | 25000000 |
| Russia | 20000 | 25000 | 1% | 14000000 |
| India | 17600 | 17000 | 1% | 8600000 |
| Canada | 11700 | 8000 | 0% | 5900000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): strategic
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Syrah Resources (SYR.AX) — producer, junior, HQ AU; US: Vidalia, Louisiana active anode material plant
- Westwater Resources (WWR) — developer, junior, HQ US; US: Kellyton, Alabama graphite plant (under construction)
- Graphite One (GPHOF) — developer, junior, HQ CA; US: Graphite Creek project, Alaska, and planned anode plant, Ohio

## Sources
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- IEA Global Critical Minerals Outlook 2026 — Outlook: https://www.iea.org/reports/global-critical-minerals-outlook-2026/outlook
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Graphite — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/graphite. Research and education only; not investment advice.

---

# Manganese (Mn)

> Indispensable for steelmaking and increasingly used in battery cathodes (LMFP, NMC). China refines over 90% of battery-grade manganese.

Source page: https://critical-minerals.si/minerals/manganese · JSON: https://critical-minerals.si/data/minerals/manganese.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Mining is spread across South Africa, Gabon and Australia, but refining for batteries is >90% concentrated in China.
- Supply risk index: 45/100
- Top producer (2025): South Africa (38%); China's share: 4%
- US net import reliance: 100%; main import sources: Gabon, South Africa, Malaysia, Australia
- On 7 of 10 government critical-mineral lists
- AI relevance: 1/3 (Construction & facilities, Backup & storage). Steel for data-center structures and transformers, and manganese-rich cathodes in stationary storage.
- Export controls: Namibia — Ore & concentrate export ban (2023); Vietnam — Raw material export ban

## Supply chain by step
- Mining (Manganese ore (Mn content)): China 4%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Refining (Battery-grade high-purity manganese sulphate): China >95%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 188
- Alloy / metal (Ferromanganese, silicomanganese and electrolytic manganese metal): not tracked yet
- End product (Steel and battery cathodes): not tracked yet

Processing gap: +91 percentage points (China 4% at mining → 95% at refining). This is separate from the supply risk index.
Most concentrated step: Refining (China 95%).

## Production by country (mine production (Mn content), thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| South Africa | 7490 | 7600 | 38% | 550000 |
| Gabon | 4640 | 5000 | 25% | 61000 |
| Ghana | 1280 | 2000 | 10% | 13000 |
| Australia | 1600 | 1600 | 8% | 580000 |
| Brazil | 705 | 800 | 4% | 300000 |
| India | 731 | 790 | 4% | 34000 |
| China | 690 | 700 | 4% | 260000 |
| Côte d'Ivoire | 340 | 350 | 2% |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): strategic
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Ferroglobe (GSM) — processor, junior, HQ GB; US: Silicon metal plants in Ohio, Alabama and other US states
- American Battery Technology (ABAT) — processor, junior, HQ US; US: Battery recycling plant near Reno and Tonopah Flats lithium project, Nevada

## Sources
- IEA Global Critical Minerals Outlook 2026 — Outlook: https://www.iea.org/reports/global-critical-minerals-outlook-2026/outlook
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Manganese — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/manganese. Research and education only; not investment advice.

---

# Vanadium (V)

> A steel-strengthening alloy and the active material in vanadium redox flow batteries for long-duration storage.

Source page: https://critical-minerals.si/minerals/vanadium · JSON: https://critical-minerals.si/data/minerals/vanadium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. 
- Supply risk index: 48/100
- Top producer (2025): China (75%); China's share: 75%
- US net import reliance: 41%; main import sources: Canada, Brazil, South Africa, Austria
- On 8 of 10 government critical-mineral lists
- AI relevance: 1/3 (Backup & storage, Construction & facilities). Vanadium flow batteries are a candidate for long-duration storage paired with renewable-powered AI campuses; high-strength steel for construction.

## Supply chain by step
- Mining (Mine production): China 75%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 75%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 84000 | 82000 | 75% | 5800 |
| Russia | 21000 | 21000 | 19% | 5000 |
| Brazil | 5190 | 5300 | 5% | 94 |
| South Africa | 8050 | 5000 | 5% | 520 |
| United States |  |  | n/a | 50 |
| Australia |  |  | n/a | 10000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): critical
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Energy Fuels (UUUU) — producer, mid-tier, HQ US; US: White Mesa Mill, Utah (uranium and rare-earth separation) and US uranium mines
- Syrah Resources (SYR.AX) — producer, junior, HQ AU; US: Vidalia, Louisiana active anode material plant

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Vanadium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/vanadium. Research and education only; not investment advice.

---

# Gallium (Ga)

> A by-product of aluminum refining that becomes gallium nitride (GaN) and gallium arsenide (GaAs) — the materials of power electronics, RF chips and lasers.

Source page: https://critical-minerals.si/minerals/gallium · JSON: https://critical-minerals.si/data/minerals/gallium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. China supplied ~99% of primary gallium in 2025; prices outside China ran 9–10x 2023 levels, and S&P Global sees a ~678 t ex-China gap.
- Supply risk index: 97/100
- Top producer (2025): China (100%); China's share: 100%
- US net import reliance: 100%; main import sources: Canada, Japan, China, Germany
- On 9 of 10 government critical-mineral lists
- AI relevance: 3/3 (Chips & fabs, Power & grid, Optical networking). GaN power transistors raise the efficiency of server power supplies and 800V data-center power architectures; GaAs and InGaAs lasers drive optical transceivers that link GPUs.
- Export controls: China — Export licensing (2023)

## Supply chain by step
- Mining (No gallium mines): not applicable. Recovered as a by-product of alumina refining and zinc processing. The IEA says typically less than 10% of the gallium in mined ore is recovered.
- Recovery and refining (Primary (low-grade) gallium): China 100%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0). The IEA puts China at 99% of 2025 supply.
- High-purity metal (High-purity (6N+) gallium): not tracked yet
- Wafers (GaN and GaAs substrates and epi-wafers): not tracked yet

Most concentrated step: Recovery and refining (China 100%).

## Production by country (primary production, kilograms)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 839000 | 900000 | 100% |  |
| Russia | 6000 | 6000 | 1% |  |
| Japan | 3000 | 3000 | 0% |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Alcoa (AA) — producer, major, HQ US; US: Massena (NY) and Warrick (IN) aluminum smelters
- AXT Inc (AXTI) — processor, mid-tier, HQ US

## Sources
- Reuters — Niche metals test West's resilience (Sep 2026): https://www.reuters.com/world/china/niche-metals-test-wests-resilience-chinese-export-curbs-2026-09-18/
- Asia Times — US, Japan race to secure chip-grade minerals (Sep 2026): https://asiatimes.com/2026/09/us-japan-race-to-secure-chip-grade-minerals-as-china-curbs-exports/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Gallium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/gallium. Research and education only; not investment advice.

---

# Germanium (Ge)

> A semiconductor metal recovered from zinc and coal ash, essential for fiber-optic cores, infrared optics and high-speed SiGe chips.

Source page: https://critical-minerals.si/minerals/germanium · JSON: https://critical-minerals.si/data/minerals/germanium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. China held ~69% of supply in 2025; Western warehouse prices topped $6,000/kg vs ~$3,100/kg inside China. USGS withholds world production data.
- Supply risk index: 75/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: >50%; main import sources: Belgium, China, Canada, Germany
- On 7 of 10 government critical-mineral lists
- AI relevance: 3/3 (Optical networking, Chips & fabs). Germanium-doped glass carries light through the fiber that interconnects AI clusters; SiGe transistors appear in high-speed networking chips.
- Export controls: China — Export licensing (2023)

## Supply chain by step
- Mining (No germanium mines): not applicable. Recovered from zinc ores and coal fly ash.
- Recovery and refining (Refined germanium): China 94%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 39. 2025 market share stated in the IEA's export-control table.
- Material (Germanium tetrachloride, dioxide and wafers): not tracked yet
- End product (Fibre-optic preforms, infrared lenses, SiGe chips): not tracked yet

Most concentrated step: Recovery and refining (China 94%).

## Production by country
No country breakdown published.

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Teck Resources (TECK) — producer, major, HQ CA; US: Red Dog zinc-lead mine, Alaska
- Ivanhoe Mines (IVN.TO) — producer, major, HQ CA
- Umicore (UMI.BR) — processor, mid-tier, HQ BE
- 5N Plus (VNP.TO) — processor, mid-tier, HQ CA; US: Specialty semiconductor plant in St. George, Utah
- AXT Inc (AXTI) — processor, mid-tier, HQ US

## Sources
- Reuters — Niche metals test West's resilience (Sep 2026): https://www.reuters.com/world/china/niche-metals-test-wests-resilience-chinese-export-curbs-2026-09-18/
- Asia Times — US, Japan race to secure chip-grade minerals (Sep 2026): https://asiatimes.com/2026/09/us-japan-race-to-secure-chip-grade-minerals-as-china-curbs-exports/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Germanium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/germanium. Research and education only; not investment advice.

---

# Indium (In)

> A soft by-product metal used in touchscreens (ITO) and in indium phosphide — the compound semiconductor behind many high-speed optical lasers.

Source page: https://critical-minerals.si/minerals/indium · JSON: https://critical-minerals.si/data/minerals/indium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. Beijing has restricted indium exports since Feb 2025; prices rose from ~$250/kg to ~$805/kg by Aug 2026.
- Supply risk index: 83/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 100%; main import sources: Republic of Korea, Japan, China, Canada
- On 7 of 10 government critical-mineral lists
- AI relevance: 3/3 (Optical networking, Chips & fabs, Cooling & thermal). Indium phosphide (InP) lasers and photodetectors are the engines of 800G/1.6T optical transceivers in AI networks; indium solders are used in chip thermal interfaces.
- Export controls: China — Export licensing (2025)

## Supply chain by step
- Mining (No primary mines): not applicable. Recovered as a by-product of zinc processing.
- Refining (Refined metal): China 69%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Material (Compounds and high-purity forms): not tracked yet
- End product (Components): not tracked yet

Most concentrated step: Refining (China 69%).

## Production by country (refinery production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 760 | 760 | 69% |  |
| South Korea | 180 | 180 | 16% |  |
| Japan | 65 | 65 | 6% |  |
| Canada | 40 | 40 | 4% |  |
| France | 21 | 21 | 2% |  |
| Belgium | 19 | 19 | 2% |  |
| Russia | 5 | 5 | 0% |  |
| Uzbekistan | 1 | 1 | 0% |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Teck Resources (TECK) — producer, major, HQ CA; US: Red Dog zinc-lead mine, Alaska
- Korea Zinc (010130.KS) — processor, major, HQ KR; US: Planned critical-metals smelter in Clarksville, Tennessee
- AXT Inc (AXTI) — processor, mid-tier, HQ US
- Coherent (COHR) — downstream, major, HQ US; US: Compound-semiconductor fab in Sherman, Texas

## Sources
- Asia Times — US, Japan race to secure chip-grade minerals (Sep 2026): https://asiatimes.com/2026/09/us-japan-race-to-secure-chip-grade-minerals-as-china-curbs-exports/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Indium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/indium. Research and education only; not investment advice.

---

# Silicon (Si)

> The substrate of the digital age. Metallurgical silicon is refined into polysilicon and grown into the wafers every chip is built on — and it is this site's namesake.

Source page: https://critical-minerals.si/minerals/silicon · JSON: https://critical-minerals.si/data/minerals/silicon.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. China produces ~87% of silicon metal, though high-purity polysilicon for chips has more diversified supply.
- Supply risk index: 55/100
- Top producer (2025): China (87%); China's share: 87%
- US net import reliance: >50%; main import sources: Brazil, Canada, Russia, Malaysia
- On 9 of 10 government critical-mineral lists
- AI relevance: 3/3 (Chips & fabs, Optical networking, Power generation). Every GPU, CPU and memory die starts as an ultra-pure silicon wafer; silicon photonics is moving optics onto the chip itself.

## Supply chain by step
- Mining (Quartz and high-purity quartz): not tracked yet. Quartz is abundant; high-purity quartz for crucibles is far more concentrated but not tracked here.
- Smelting (Silicon metal): China 87%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Purification (Polysilicon (solar grade)): China 94%, 2024 — IEA PVPS Task 1, PV production trends (Oct 2025). Semiconductor-grade polysilicon is more diversified, with large producers in Germany, the US and Japan.
- Wafers (Solar wafers): China 97%, 2024 — IEA PVPS Task 1, PV production trends (Oct 2025)

Most concentrated step: Wafers (China 97%).

## Production by country (silicon metal production, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 4800 | 4000 | 87% |  |
| Brazil | 190 | 180 | 4% |  |
| Norway | 140 | 130 | 3% |  |
| France | 90 | 68 | 1% |  |
| Australia | 47 | 47 | 1% |  |
| Russia | 59 | 35 | 1% |  |
| Canada | 34 | 34 | 1% |  |
| Iceland | 28 | 16 | 0% |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Ferroglobe (GSM) — processor, junior, HQ GB; US: Silicon metal plants in Ohio, Alabama and other US states
- Wacker Chemie (WCH.DE) — processor, mid-tier, HQ DE; US: Polysilicon plant in Charleston, Tennessee

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Silicon — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/silicon. Research and education only; not investment advice.

---

# Arsenic (As)

> A toxic metalloid that is nevertheless vital as high-purity metal for gallium-arsenide chips and as a silicon dopant.

Source page: https://critical-minerals.si/minerals/arsenic · JSON: https://critical-minerals.si/data/minerals/arsenic.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. 
- Supply risk index: 43/100
- Top producer (2025): Peru (49%); China's share: 39%
- US net import reliance: 100%; main import sources: China, Malaysia, Morocco
- On 3 of 10 government critical-mineral lists
- AI relevance: 2/3 (Chips & fabs, Optical networking). GaAs and InGaAs devices in RF and optical components; arsenic is a common n-type dopant in silicon logic.

## Supply chain by step
- Mining (Arsenic trioxide production): China 39%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 39%).

## Production by country (arsenic trioxide production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| Peru | 31000 | 30000 | 49% |  |
| China | 24000 | 24000 | 39% |  |
| Morocco | 6000 | 5000 | 8% |  |
| Belgium | 1000 | 1000 | 2% |  |
| Russia | 500 | 500 | 1% |  |
| Japan | 40 |  | n/a |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Arsenic — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/arsenic. Research and education only; not investment advice.

---

# Antimony (Sb)

> Used in flame retardants, lead-acid batteries, munitions and as a semiconductor dopant. China and Russia dominate supply.

Source page: https://critical-minerals.si/minerals/antimony · JSON: https://critical-minerals.si/data/minerals/antimony.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. China's 2024 export licensing remains in force; a ban on exports to the US is suspended only until Nov 27, 2026. IEA flags AI as raising antimony's importance.
- Supply risk index: 67/100
- Top producer (2025): China (36%); China's share: 36%
- US net import reliance: 91%; main import sources: China, Belgium, Thailand, India
- On 9 of 10 government critical-mineral lists
- AI relevance: 2/3 (Servers & hardware, Backup & storage, Chips & fabs). Flame retardants in cables, plastics and server enclosures; lead-acid backup batteries; antimony dopants and infrared detectors.
- Export controls: China — Export licensing (2024)

## Supply chain by step
- Mining (Mine production): China 36%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 36%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 40000 | 40000 | 36% | 830000 |
| Russia | 40000 | 32000 | 29% | 350000 |
| Tajikistan | 22000 | 22000 | 20% | 60000 |
| Bolivia | 5300 | 5000 | 5% | 310000 |
| Myanmar | 4500 | 4500 | 4% | 140000 |
| Turkey | 3000 | 3000 | 3% | 99000 |
| Australia | 1270 | 1300 | 1% | 110000 |
| Kazakhstan | 800 | 800 | 1% |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): critical
- United Kingdom — 2024 Criticality Assessment (2024): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Korea Zinc (010130.KS) — processor, major, HQ KR; US: Planned critical-metals smelter in Clarksville, Tennessee
- Perpetua Resources (PPTA) — developer, mid-tier, HQ US; US: Stibnite gold-antimony project, Idaho
- United States Antimony (UAMY) — processor, junior, HQ US; US: Antimony smelter in Thompson Falls, Montana, and mining in Alaska and Montana

## Sources
- Reuters — China suspends gallium, germanium, antimony export ban to US (Nov 2025): https://www.reuters.com/world/china/china-suspends-ban-exports-gallium-germanium-antimony-us-2025-11-09/
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Antimony — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/antimony. Research and education only; not investment advice.

---

# Tellurium (Te)

> A rare by-product of copper refining used in cadmium-telluride solar panels, thermoelectric coolers and phase-change memory.

Source page: https://critical-minerals.si/minerals/tellurium · JSON: https://critical-minerals.si/data/minerals/tellurium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. China added tellurium to export licensing in 2025.
- Supply risk index: 68/100
- Top producer (2025): China (80%); China's share: 80%
- US net import reliance: >25%; main import sources: Canada, Philippines, Japan, Germany
- On 6 of 10 government critical-mineral lists
- AI relevance: 1/3 (Optical networking, Cooling & thermal, Power generation). Thermoelectric (Peltier) coolers for laser modules in optical transceivers; CdTe solar for renewable power purchase agreements.
- Export controls: China — Export licensing (2025)

## Supply chain by step
- Mining (No primary mines): not applicable. Recovered as a by-product of copper processing.
- Refining (Refined metal): China 80%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Material (Compounds and high-purity forms): not tracked yet
- End product (Components): not tracked yet

Most concentrated step: Refining (China 80%).

## Production by country (refinery production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 750 | 800 | 80% |  |
| Russia | 64 | 67 | 7% |  |
| Japan | 70 | 61 | 6% |  |
| Sweden | 46 | 48 | 5% |  |
| Canada | 27 | 28 | 3% |  |
| Uzbekistan | 18 | 18 | 2% |  |
| South Africa | 5 | 5 | 1% |  |
| Bulgaria | 1 | 1 | 0% |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Korea Zinc (010130.KS) — processor, major, HQ KR; US: Planned critical-metals smelter in Clarksville, Tennessee
- 5N Plus (VNP.TO) — processor, mid-tier, HQ CA; US: Specialty semiconductor plant in St. George, Utah

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Tellurium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/tellurium. Research and education only; not investment advice.

---

# Selenium (Se)

> A copper-refining by-product used in glass, metallurgy, solar cells (CIGS) and electronics.

Source page: https://critical-minerals.si/minerals/selenium · JSON: https://critical-minerals.si/data/minerals/selenium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Adequate. 
- Supply risk index: 33/100
- Top producer (2025): China (53%); China's share: 53%
- US net import reliance: >50%; main import sources: Philippines, Mexico, Chile, Poland
- On 3 of 10 government critical-mineral lists
- AI relevance: 1/3 (Power generation). Supporting role in photovoltaics and some electronic components.

## Supply chain by step
- Mining (No primary mines): not applicable. Recovered as a by-product of copper processing.
- Refining (Refined metal): China 53%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Material (Compounds and high-purity forms): not tracked yet
- End product (Components): not tracked yet

Most concentrated step: Refining (China 53%).

## Production by country (refinery production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 1800 | 2000 | 53% |  |
| Japan | 730 | 640 | 17% |  |
| Russia | 310 | 320 | 8% |  |
| Belgium | 200 | 200 | 5% |  |
| Canada | 130 | 130 | 3% |  |
| India | 88 | 90 | 2% |  |
| Mexico | 78 | 88 | 2% |  |
| Serbia | 69 | 71 | 2% |  |

## Government lists
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical

## Listed companies with exposure
- Korea Zinc (010130.KS) — processor, major, HQ KR; US: Planned critical-metals smelter in Clarksville, Tennessee

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Selenium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/selenium. Research and education only; not investment advice.

---

# Hafnium (Hf)

> A zirconium by-product that forms hafnium oxide — the 'high-k' gate dielectric inside nearly every advanced logic transistor.

Source page: https://critical-minerals.si/minerals/hafnium · JSON: https://critical-minerals.si/data/minerals/hafnium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Global production is tiny and tied to nuclear-grade zirconium refining; USGS does not publish world production.
- Supply risk index: 32/100
- Top producer (2025): n/a; China's share: n/a
- US net import reliance: n/a
- On 5 of 10 government critical-mineral lists
- AI relevance: 3/3 (Chips & fabs, Power generation). Hafnium oxide gate dielectrics are used in leading-edge logic chips including AI accelerators; also in superalloys for turbines.

## Supply chain by step
No step-by-step country data yet.

## Production by country
No country breakdown published.

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): critical
- United Kingdom — 2024 Criticality Assessment (2024): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Hafnium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/hafnium. Research and education only; not investment advice.

---

# Tantalum (Ta)

> A corrosion-proof metal used in compact, reliable capacitors and in chip barrier layers. DR Congo and Rwanda supply most mined tantalum.

Source page: https://critical-minerals.si/minerals/tantalum · JSON: https://critical-minerals.si/data/minerals/tantalum.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Over half of mined supply comes from DR Congo, with conflict-mineral sourcing risk.
- Supply risk index: 49/100
- Top producer (2025): DR Congo (52%); China's share: 3%
- US net import reliance: 100%; main import sources: China, Australia, Germany, Indonesia
- On 8 of 10 government critical-mineral lists
- AI relevance: 3/3 (Chips & fabs, Servers & hardware). Tantalum capacitors stabilize power on GPU boards and servers; tantalum/tantalum-nitride barrier layers sit under copper wiring in chips.
- Export controls: Venezuela — Columbite-tantalite export ban (2024)

## Supply chain by step
- Mining (Mine production): China 3%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 3%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| DR Congo | 1270 | 1300 | 52% |  |
| Rwanda | 374 | 400 | 16% |  |
| Nigeria | 390 | 390 | 16% |  |
| Brazil | 210 | 190 | 8% | 40000 |
| China | 76 | 80 | 3% | 240000 |
| Australia | 52 | 50 | 2% | 120000 |
| Ethiopia | 40 | 40 | 2% |  |
| Russia | 29 | 30 | 1% | 150 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): critical
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- PLS Group (Pilbara Minerals) (PLS.AX) — producer, mid-tier, HQ AU

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Tantalum — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/tantalum. Research and education only; not investment advice.

---

# Boron (B)

> Mined as borates (Turkey dominates) for glass, ceramics and NdFeB magnets; ultra-pure boron is a key p-type dopant in silicon.

Source page: https://critical-minerals.si/minerals/boron · JSON: https://critical-minerals.si/data/minerals/boron.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. 
- Supply risk index: 25/100
- Top producer (2025): Turkey; China's share: n/a
- US net import reliance: net exporter; main import sources: Turkey
- On 4 of 10 government critical-mineral lists
- AI relevance: 2/3 (Chips & fabs, Cooling & thermal). Boron dopes silicon in every chip; borosilicate glass and boron in NdFeB magnets used in cooling fans and drives.

## Supply chain by step
No step-by-step country data yet.

## Production by country (production (mixed forms reported by country — not directly comparable), thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| Turkey | 1800 | 1500 | n/a | 950000 |
| Bolivia | 230 | 380 | n/a |  |
| Chile | 470 | 300 | n/a | 35000 |
| China | 210 | 230 | n/a | 9100 |
| Peru | 190 | 220 | n/a | 4000 |
| Argentina | 160 | 170 | n/a |  |
| Russia | 90 | 80 | n/a | 40000 |
| Germany | 45 | 40 | n/a |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical

## Listed companies with exposure
- ioneer (IONR) — developer, junior, HQ AU; US: Rhyolite Ridge lithium-boron project, Nevada (permitted, pre-construction)
- 5E Advanced Materials (FEAM) — developer, junior, HQ US; US: Fort Cady boron project, California (small-scale production)

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Boron — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/boron. Research and education only; not investment advice.

---

# Phosphate & Phosphorus (P)

> Phosphate rock feeds the world's fertilizers; refined phosphorus is used in LFP batteries, flame retardants and as a semiconductor dopant.

Source page: https://critical-minerals.si/minerals/phosphorus · JSON: https://critical-minerals.si/data/minerals/phosphorus.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. 
- Supply risk index: 42/100
- Top producer (2025): China (44%); China's share: 44%
- US net import reliance: 16%; main import sources: Peru
- On 8 of 10 government critical-mineral lists
- AI relevance: 1/3 (Backup & storage, Chips & fabs). LFP (lithium iron phosphate) is the dominant chemistry for stationary storage at data centers; high-purity phosphorus is an n-type dopant.
- Export controls: Vietnam — Apatite export ban

## Supply chain by step
- Mining (Phosphate rock): China 44%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Purification (Purified phosphoric acid (battery grade)): China 70%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 190. Most phosphate goes to fertiliser; this step tracks the battery route.
- Cathode material (LFP cathode active material): China 98%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 72
- Battery cells (LFP batteries): China 99%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 39

Processing gap: +55 percentage points (China 44% at mining → 99% at battery cells). This is separate from the supply risk index.
Most concentrated step: Battery cells (China 99%).

## Production by country (mine production, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 105000 | 110000 | 44% | 3400000 |
| Morocco | 35300 | 36000 | 14% | 50000000 |
| United States | 19400 | 20000 | 8% | 1000000 |
| Russia | 14400 | 14000 | 6% | 2400000 |
| Jordan | 11500 | 12000 | 5% | 820000 |
| Saudi Arabia | 10000 | 10000 | 4% | 1000000 |
| Egypt | 5300 | 5500 | 2% | 2800000 |
| Brazil | 5300 | 5000 | 2% | 1600000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): critical
- United Kingdom — 2024 Criticality Assessment (2024): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): strategic
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Phosphate & Phosphorus — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/phosphorus. Research and education only; not investment advice.

---

# Cadmium (Cd)

> A zinc-refining by-product used in nickel-cadmium batteries and cadmium-telluride thin-film solar panels.

Source page: https://critical-minerals.si/minerals/cadmium · JSON: https://critical-minerals.si/data/minerals/cadmium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Adequate. 
- Supply risk index: 24/100
- Top producer (2025): China (41%); China's share: 41%
- US net import reliance: <25%; main import sources: China, Germany, Australia, Peru
- On 1 of 10 government critical-mineral lists
- AI relevance: 1/3 (Power generation). CdTe thin-film solar supplies renewable power for data-center PPAs.

## Supply chain by step
- Mining (No primary mines): not applicable. Recovered as a by-product of zinc processing.
- Refining (Refined metal): China 41%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Material (Compounds and high-purity forms): not tracked yet
- End product (Components): not tracked yet

Most concentrated step: Refining (China 41%).

## Production by country (refinery production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 8900 | 9500 | 41% |  |
| South Korea | 4300 | 4300 | 19% |  |
| Canada | 1300 | 1300 | 6% |  |
| Japan | 1580 | 1300 | 6% |  |
| Kazakhstan | 1100 | 1100 | 5% |  |
| Mexico | 1190 | 1000 | 4% |  |
| Russia | 1000 | 1000 | 4% |  |
| Australia | 601 | 600 | 3% |  |

## Government lists
- India — 30 Critical Minerals for India (2023): critical

## Listed companies with exposure
- None tracked yet

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Cadmium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/cadmium. Research and education only; not investment advice.

---

# Copper (Cu)

> The metal of electrification. Copper wires the grid, the substation, the busbar and the chip — and it is the single largest mineral input to AI infrastructure.

Source page: https://critical-minerals.si/minerals/copper · JSON: https://critical-minerals.si/data/minerals/copper.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Structural deficit. IEA projects a ~25% supply gap by 2035; prices hit a record near $14,780/t in Sep 2026 as Chile output fell 6.6% in H1 2026 and DR Congo banned concentrate exports.
- Supply risk index: 48/100
- Top producer (2025): Chile (23%); China's share: 8%
- US net import reliance: 57%; main import sources: Chile, Canada, Peru, Mexico
- On 9 of 10 government critical-mineral lists
- AI relevance: 3/3 (Power & grid, Chips & fabs, Cooling & thermal, Servers & hardware, Construction & facilities). Copper makes up roughly 82–83% of the mineral mass modeled for AI data centers, mostly in grid transmission and distribution; it also forms chip interconnects, busbars, cold plates and rack cabling.
- Export controls: Indonesia — Concentrate export ban (2023); Morocco — Export licensing, refined copper (2025); DR Congo — Concentrate export ban (Aug 2026)

## Supply chain by step
- Mining (Copper ore and concentrate): China 8%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Smelting and refining (Refined copper): China 48%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0). The IEA estimates China holds just under half of global refining capacity and accounted for over 90% of smelting growth since 2005.
- Metal (Refined copper cathode): not applicable. Refined cathode is the metal; see refining.
- Semi-finished products (Wire rod, busbar, tube and foil): not tracked yet

Processing gap: +40 percentage points (China 8% at mining → 48% at smelting and refining). This is separate from the supply risk index.
Most concentrated step: Smelting and refining (China 48%).

## Production by country (mine production, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| Chile | 5510 | 5300 | 23% | 180000 |
| DR Congo | 2990 | 3200 | 14% | 80000 |
| Peru | 2740 | 2700 | 12% | 85000 |
| China | 1840 | 1800 | 8% | 41000 |
| Russia | 1020 | 1300 | 6% | 80000 |
| United States | 1050 | 1000 | 4% | 47000 |
| Zambia | 823 | 940 | 4% | 21000 |
| Australia | 765 | 730 | 3% | 100000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): strategic
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Freeport-McMoRan (FCX) — producer, major, HQ US; US: Morenci and other copper mines in Arizona and New Mexico; molybdenum mines in Colorado
- Southern Copper (SCCO) — producer, major, HQ US
- Teck Resources (TECK) — producer, major, HQ CA; US: Red Dog zinc-lead mine, Alaska
- Ivanhoe Mines (IVN.TO) — producer, major, HQ CA
- First Quantum Minerals (FQVLF) — producer, major, HQ CA
- Antofagasta (ANTO.L) — producer, major, HQ GB; US: Twin Metals copper-nickel project, Minnesota (development)
- Hudbay Minerals (HBM) — producer, major, HQ CA; US: Copper World project, Arizona (development)
- Zijin Mining (601899.SS) — producer, major, HQ CN
- Jiangxi Copper (600362.SS) — producer, major, HQ CN
- Global X Copper Miners ETF (COPX) — etf, fund, HQ US
- Sprott Copper Miners ETF (COPP) — etf, fund, HQ US
- United States Copper Index Fund (CPER) — trust, fund, HQ US
- CMOC Group (603993.SS) — producer, major, HQ CN
- Glencore (GLEN.L) — major, major, HQ CH
- Vale (VALE) — major, major, HQ BR
- BHP Group (BHP) — major, major, HQ AU; US: 45% of the Resolution Copper project, Arizona (development)
- Rio Tinto (RIO) — major, major, HQ GB; US: Kennecott copper (UT), Boron (CA) and 55% of Resolution Copper (AZ)
- Anglo American (AAL.L) — major, major, HQ GB
- iShares MSCI Global Metals & Mining Producers ETF (PICK) — etf, fund, HQ US
- Sprott Critical Materials ETF (SETM) — etf, fund, HQ US
- Ivanhoe Electric (IE) — developer, mid-tier, HQ US; US: Santa Cruz copper project, Arizona (pre-production)
- Talon Metals (TLOFF) — developer, junior, HQ CA; US: Tamarack nickel-copper project, Minnesota

## Sources
- IEA Global Critical Minerals Outlook 2026 — Outlook: https://www.iea.org/reports/global-critical-minerals-outlook-2026/outlook
- CNN — AI boom pushes copper to record highs (Sep 2026): https://www.cnn.com/2026/09/10/investing/copper-price-record-high
- Rio Times — DR Congo cobalt quotas & concentrate ban (Aug 2026): https://www.riotimesonline.com/dr-congo-cobalt-export-quotas-2026/
- Rare Earth Exchanges — AI data-center mineral demand study (Sep 2026): https://rareearthexchanges.com/news/ai-data-centers-critical-mineral-demand/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Copper — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/copper. Research and education only; not investment advice.

---

# Aluminum (Al)

> Light, conductive and recyclable — used in transmission lines, server chassis, heat sinks and building structures. Made from bauxite (Guinea, Australia).

Source page: https://critical-minerals.si/minerals/aluminum · JSON: https://critical-minerals.si/data/minerals/aluminum.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Base-metal prices including aluminium rose about one-third between Jan 2025 and Apr 2026; Middle East exports (≈20% of US supply) were disrupted.
- Supply risk index: 56/100
- Top producer (2025): China (61%); China's share: 61%
- US net import reliance: 60%; main import sources: Canada, United Arab Emirates, Bahrain, China
- On 9 of 10 government critical-mineral lists
- AI relevance: 2/3 (Cooling & thermal, Servers & hardware, Power & grid, Construction & facilities). Heat sinks, server chassis, overhead power lines and data-center structures; high-purity alumina is used in semiconductor substrates and LEDs.
- Export controls: Indonesia — Bauxite export ban (2023); Morocco — Aluminum ingot export licensing (2025)

## Supply chain by step
- Mining (Bauxite): China 20%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Refining (Alumina): China 62%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Smelting (Primary aluminium): China 61%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Semi-finished products (Rolled, extruded and cast aluminium): not tracked yet

Processing gap: +42 percentage points (China 20% at mining → 62% at refining). This is separate from the supply risk index.
Most concentrated step: Refining (China 62%).

## Production by country (smelter production, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 44000 | 45000 | 61% |  |
| India | 4200 | 4200 | 6% |  |
| Russia | 3880 | 3900 | 5% |  |
| Canada | 3320 | 3300 | 4% |  |
| United Arab Emirates | 2690 | 2700 | 4% |  |
| Bahrain | 1620 | 1600 | 2% |  |
| Australia | 1570 | 1500 | 2% |  |
| Norway | 1300 | 1300 | 2% |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): strategic
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Alcoa (AA) — producer, major, HQ US; US: Massena (NY) and Warrick (IN) aluminum smelters
- Century Aluminum (CENX) — producer, mid-tier, HQ US; US: Mt. Holly (SC) and Sebree (KY) aluminum smelters
- Rio Tinto (RIO) — major, major, HQ GB; US: Kennecott copper (UT), Boron (CA) and 55% of Resolution Copper (AZ)
- iShares MSCI Global Metals & Mining Producers ETF (PICK) — etf, fund, HQ US

## Sources
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Aluminum — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/aluminum. Research and education only; not investment advice.

---

# Zinc (Zn)

> Galvanizes steel against corrosion and is the main source of by-product germanium, indium and cadmium.

Source page: https://critical-minerals.si/minerals/zinc · JSON: https://critical-minerals.si/data/minerals/zinc.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Adequate. 
- Supply risk index: 39/100
- Top producer (2025): China (32%); China's share: 32%
- US net import reliance: 73%; main import sources: Canada, Mexico, Peru, Republic of Korea
- On 6 of 10 government critical-mineral lists
- AI relevance: 1/3 (Construction & facilities, Power & grid). Galvanized steel for data-center structures and transmission towers; its refining yields germanium and indium.
- Export controls: Laos — Raw mineral export ban (2024); Vietnam — Lead-zinc raw export ban

## Supply chain by step
- Mining (Mine production): China 32%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 32%).

## Production by country (mine production, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 4000 | 4100 | 32% | 60000 |
| Peru | 1270 | 1500 | 12% | 18000 |
| Australia | 1100 | 1100 | 8% | 64000 |
| India | 866 | 870 | 7% | 10000 |
| Mexico | 773 | 780 | 6% | 14000 |
| United States | 759 | 670 | 5% | 9300 |
| Bolivia | 512 | 500 | 4% |  |
| Russia | 310 | 430 | 3% | 29000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): strategic
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Southern Copper (SCCO) — producer, major, HQ US
- Teck Resources (TECK) — producer, major, HQ CA; US: Red Dog zinc-lead mine, Alaska
- Ivanhoe Mines (IVN.TO) — producer, major, HQ CA
- Hudbay Minerals (HBM) — producer, major, HQ CA; US: Copper World project, Arizona (development)
- Zijin Mining (601899.SS) — producer, major, HQ CN
- Korea Zinc (010130.KS) — processor, major, HQ KR; US: Planned critical-metals smelter in Clarksville, Tennessee
- Glencore (GLEN.L) — major, major, HQ CH

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Zinc — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/zinc. Research and education only; not investment advice.

---

# Lead (Pb)

> Still the workhorse of lead-acid batteries used in vehicles and many backup power systems.

Source page: https://critical-minerals.si/minerals/lead · JSON: https://critical-minerals.si/data/minerals/lead.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Adequate. 
- Supply risk index: 38/100
- Top producer (2025): China (42%); China's share: 42%
- US net import reliance: 33%; main import sources: Canada, Republic of Korea, Ireland
- On 2 of 10 government critical-mineral lists
- AI relevance: 1/3 (Backup & storage). Valve-regulated lead-acid (VRLA) batteries remain common in data-center UPS systems.
- Export controls: Vietnam — Lead-zinc raw export ban

## Supply chain by step
- Mining (Mine production): China 42%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 42%).

## Production by country (mine production, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 1940 | 1900 | 42% | 22000 |
| Australia | 481 | 480 | 11% | 34000 |
| Peru | 291 | 290 | 6% | 5000 |
| United States | 304 | 280 | 6% | 4600 |
| Russia | 260 | 260 | 6% | 8900 |
| India | 226 | 220 | 5% | 1900 |
| Mexico | 240 | 200 | 4% | 5600 |
| Bolivia | 110 | 100 | 2% | 1600 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical

## Listed companies with exposure
- Korea Zinc (010130.KS) — processor, major, HQ KR; US: Planned critical-metals smelter in Clarksville, Tennessee

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Lead — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/lead. Research and education only; not investment advice.

---

# Tin (Sn)

> The solder that joins every electronic component to every circuit board. Supply comes from China, Indonesia, Myanmar, Peru and DR Congo.

Source page: https://critical-minerals.si/minerals/tin · JSON: https://critical-minerals.si/data/minerals/tin.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Prices for base metals including tin rose about one-third between Jan 2025 and Apr 2026; supply is exposed to Myanmar and DRC disruption.
- Supply risk index: 43/100
- Top producer (2025): China (24%); China's share: 24%
- US net import reliance: 77%; main import sources: Peru, Bolivia, Indonesia, Brazil
- On 8 of 10 government critical-mineral lists
- AI relevance: 3/3 (Servers & hardware, Chips & fabs). Tin-based solders attach GPUs, memory and chips to boards; AI servers carry far more solder joints than standard servers.
- Export controls: Venezuela — Cassiterite export ban (2024)

## Supply chain by step
- Mining (Mine production): China 25%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 25%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 71000 | 71000 | 24% | 1200000 |
| Indonesia | 55000 | 61000 | 21% | 1400000 |
| Peru | 32300 | 33000 | 11% | 150000 |
| Brazil | 27600 | 28000 | 10% | 700000 |
| DR Congo | 26000 | 27000 | 9% | 91000 |
| Bolivia | 21200 | 15000 | 5% | 400000 |
| Australia | 11300 | 12000 | 4% | 570000 |
| Myanmar | 20000 | 12000 | 4% | 700000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United Kingdom — 2024 Criticality Assessment (2024): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): strategic
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Alphamin Resources (AFM.V) — producer, mid-tier, HQ MU

## Sources
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Tin — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/tin. Research and education only; not investment advice.

---

# High-purity Iron (Fe)

> High-purity iron ore feeds low-carbon steelmaking and specialty materials, including the electrical steel inside transformers.

Source page: https://critical-minerals.si/minerals/iron · JSON: https://critical-minerals.si/data/minerals/iron.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Adequate. 
- Supply risk index: 21/100
- Top producer (2025): Australia (38%); China's share: 11%
- US net import reliance: n/a
- On 4 of 10 government critical-mineral lists
- AI relevance: 1/3 (Construction & facilities, Power & grid). Steel for data-center buildings, transformers and transmission towers.

## Supply chain by step
- Mining (Iron ore (iron content)): China 11%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Ironmaking (Pig iron): China 64%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Steelmaking (Raw steel (all grades)): China 52%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Specialty steel (Electrical and specialty steels): not tracked yet

Processing gap: +52 percentage points (China 11% at mining → 64% at ironmaking). This is separate from the supply risk index.
Most concentrated step: Ironmaking (China 64%).

## Production by country (iron ore, iron content, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| Australia | 607000 | 600000 | 38% | 27000 |
| Brazil | 268000 | 260000 | 16% | 15000 |
| India | 175000 | 190000 | 12% | 3400 |
| China | 183000 | 180000 | 11% | 3000 |
| Iran | 59000 | 61000 | 4% | 1500 |
| Russia | 53000 | 50000 | 3% | 14000 |
| South Africa | 41000 | 42000 | 3% | 680 |
| Canada | 42000 | 41000 | 3% | 2300 |

## Government lists
- United Kingdom — 2024 Criticality Assessment (2024): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Cleveland-Cliffs (CLF) — processor, mid-tier, HQ US; US: Butler Works electrical steel, Pennsylvania, and other US steel plants
- Vale (VALE) — major, major, HQ BR
- BHP Group (BHP) — major, major, HQ AU; US: 45% of the Resolution Copper project, Arizona (development)
- Rio Tinto (RIO) — major, major, HQ GB; US: Kennecott copper (UT), Boron (CA) and 55% of Resolution Copper (AZ)
- Anglo American (AAL.L) — major, major, HQ GB
- iShares MSCI Global Metals & Mining Producers ETF (PICK) — etf, fund, HQ US

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: High-purity Iron — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/iron. Research and education only; not investment advice.

---

# Electrical Steel (GOES) (GOES)

> Grain-oriented electrical steel forms the magnetic cores of power transformers — a chronic bottleneck in grid build-out. Listed by the US DOE as a critical material.

Source page: https://critical-minerals.si/minerals/electrical_steel · JSON: https://critical-minerals.si/data/minerals/electrical_steel.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. Transformer lead times and limited GOES capacity are a recognized constraint for AI build-out.
- Supply risk index: 41/100
- Top producer (2025): n/a; China's share: n/a
- US net import reliance: n/a
- On 1 of 10 government critical-mineral lists
- AI relevance: 3/3 (Power & grid). Every new AI campus needs large power transformers; a 2026 Resources Policy study identifies GOES as a particularly constrained enabling material for AI data centers.

## Supply chain by step
- Mining (Iron ore (iron content)): China 11%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Ironmaking (Pig iron): China 64%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Steelmaking (Raw steel (all grades)): China 52%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Electrical steel (Grain-oriented electrical steel (GOES) for transformer cores): not tracked yet. Very few producers make GOES. The site lists it as tight; country shares are not published in a reusable source.

Processing gap: +52 percentage points (China 11% at mining → 64% at ironmaking). This is separate from the supply risk index.
Most concentrated step: Ironmaking (China 64%).

## Production by country
No country breakdown published.

## Government lists
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical

## Listed companies with exposure
- Cleveland-Cliffs (CLF) — processor, mid-tier, HQ US; US: Butler Works electrical steel, Pennsylvania, and other US steel plants

## Sources
- Resources Policy (2026) — Mineral demand from AI data centers: https://ideas.repec.org/a/eee/jrpoli/v119y2026ics030142072600142x.html
- Rare Earth Exchanges — AI data-center mineral demand study (Sep 2026): https://rareearthexchanges.com/news/ai-data-centers-critical-mineral-demand/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Electrical Steel (GOES) — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/electrical_steel. Research and education only; not investment advice.

---

# Silicon Carbide (SiC)

> A wide-bandgap semiconductor that switches high voltages efficiently. Listed by the US DOE as a critical material for energy.

Source page: https://critical-minerals.si/minerals/silicon_carbide · JSON: https://critical-minerals.si/data/minerals/silicon_carbide.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. 
- Supply risk index: 36/100
- Top producer (2025): n/a; China's share: n/a
- US net import reliance: 74%; main import sources: China, Brazil
- On 1 of 10 government critical-mineral lists
- AI relevance: 2/3 (Power & grid, Chips & fabs). SiC power devices in solid-state transformers, high-voltage DC data-center power, inverters and EV chargers.

## Supply chain by step
No step-by-step country data yet.

## Production by country
No country breakdown published.

## Government lists
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical

## Listed companies with exposure
- Coherent (COHR) — downstream, major, HQ US; US: Compound-semiconductor fab in Sherman, Texas

## Sources
- Congressional Research Service — USGS & DOE lists: https://www.congress.gov/crs-product/IF13145
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Silicon Carbide — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/silicon_carbide. Research and education only; not investment advice.

---

# Tungsten (W)

> The densest common metal with the highest melting point — used for cutting tools, armor, and as the 'plugs' that connect chip transistors to wiring.

Source page: https://critical-minerals.si/minerals/tungsten · JSON: https://critical-minerals.si/data/minerals/tungsten.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. China mined ~79% of world supply in 2025. Ex-China concentrate prices roughly tripled in 2026 (from $750–850 to $2,500–2,800 per mtu).
- Supply risk index: 80/100
- Top producer (2025): China (79%); China's share: 79%
- US net import reliance: >50%; main import sources: China, Germany, Bolivia, Vietnam
- On 9 of 10 government critical-mineral lists
- AI relevance: 3/3 (Chips & fabs, Servers & hardware). Tungsten contacts and vias link transistors to the copper wiring in logic and memory chips; tungsten tooling machines servers and fab equipment.
- Export controls: China — Export licensing (2025); Russia — Tungsten scrap export ban (2022)

## Supply chain by step
- Mining (Mine production): China 79%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 79%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 67000 | 67000 | 79% | 2500000 |
| Vietnam | 3400 | 3000 | 4% | 170000 |
| Kazakhstan |  | 2400 | 3% |  |
| North Korea | 1900 | 2000 | 2% | 29000 |
| Russia | 1500 | 2000 | 2% | 400000 |
| Bolivia | 1700 | 1700 | 2% |  |
| Rwanda | 1300 | 1300 | 2% |  |
| Australia | 920 | 1000 | 1% | 570000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- VanEck Rare Earth & Strategic Metals ETF (REMX) — etf, fund, HQ US
- CMOC Group (603993.SS) — producer, major, HQ CN
- Almonty Industries (ALM) — producer, mid-tier, HQ US; US: Gentung Browns Lake tungsten project, Montana

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- PR Newswire via TradingView — tungsten concentrate prices tripled (Sep 2026): https://www.tradingview.com/news/prnewswire:1e5c54bbb8bfb:0-tungsten-concentrate-prices-have-roughly-tripled-since-january/
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Tungsten — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/tungsten. Research and education only; not investment advice.

---

# Molybdenum (Mo)

> A steel-hardening and high-temperature metal, also used in thin films for displays and as an emerging chip-wiring material.

Source page: https://critical-minerals.si/minerals/molybdenum · JSON: https://critical-minerals.si/data/minerals/molybdenum.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. China added molybdenum items to export licensing in 2025.
- Supply risk index: 52/100
- Top producer (2025): China (37%); China's share: 37%
- US net import reliance: n/a
- On 6 of 10 government critical-mineral lists
- AI relevance: 2/3 (Chips & fabs, Construction & facilities). Molybdenum is being adopted for advanced chip interconnects and is used in sputtering targets and high-strength steels.
- Export controls: China — Export licensing (2025)

## Supply chain by step
- Mining (Mine production): China 37%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 37%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 100000 | 97000 | 37% | 7800 |
| Chile | 38500 | 42000 | 16% | 2600 |
| United States | 34000 | 40000 | 15% | 3500 |
| Peru | 41900 | 39000 | 15% | 1000 |
| Mexico | 16200 | 17000 | 7% | 130 |
| Armenia | 8200 | 5300 | 2% | 150 |
| Kazakhstan | 4080 | 4300 | 2% | 7 |
| Mongolia | 3110 | 4200 | 2% | 10 |

## Government lists
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Freeport-McMoRan (FCX) — producer, major, HQ US; US: Morenci and other copper mines in Arizona and New Mexico; molybdenum mines in Colorado
- Southern Copper (SCCO) — producer, major, HQ US
- Antofagasta (ANTO.L) — producer, major, HQ GB; US: Twin Metals copper-nickel project, Minnesota (development)
- CMOC Group (603993.SS) — producer, major, HQ CN

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Molybdenum — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/molybdenum. Research and education only; not investment advice.

---

# Niobium (Nb)

> Strengthens steel pipelines and structures in tiny amounts; also forms superconducting magnets. Brazil supplies about 93%.

Source page: https://critical-minerals.si/minerals/niobium · JSON: https://critical-minerals.si/data/minerals/niobium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Single-country concentration: Brazil ~93% of mine output.
- Supply risk index: 46/100
- Top producer (2025): Brazil (93%); China's share: 0%
- US net import reliance: 100%; main import sources: Brazil, Canada
- On 8 of 10 government critical-mineral lists
- AI relevance: 1/3 (Construction & facilities). High-strength low-alloy steel for buildings and transmission; niobium superconductors in quantum and research hardware.

## Supply chain by step
- Mining (Mine production): China 0%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 0%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| Brazil | 104000 | 104000 | 93% | 14000000 |
| Canada | 6900 | 6000 | 5% | 640000 |
| DR Congo | 930 | 970 | 1% |  |
| Russia | 300 | 300 | 0% | 3000 |
| Rwanda | 210 | 200 | 0% |  |
| China | 44 | 40 | 0% | 6500000 |
| United States |  |  | n/a | 210000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): critical
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- CMOC Group (603993.SS) — producer, major, HQ CN
- NioCorp Developments (NB) — developer, junior, HQ US; US: Elk Creek critical minerals project, Nebraska (pre-construction)

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Niobium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/niobium. Research and education only; not investment advice.

---

# Titanium (Ti)

> Strong, light and corrosion-resistant — the aerospace metal. Titanium dioxide is also the world's main white pigment.

Source page: https://critical-minerals.si/minerals/titanium · JSON: https://critical-minerals.si/data/minerals/titanium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. China produces ~70% of titanium sponge metal.
- Supply risk index: 67/100
- Top producer (2025): China (70%); China's share: 70%
- US net import reliance: 100%; main import sources: Japan, Saudi Arabia, Kazakhstan
- On 8 of 10 government critical-mineral lists
- AI relevance: 1/3 (Chips & fabs, Power generation). Titanium nitride barrier layers in chips and titanium alloys in turbines; mainly aerospace and defense.
- Export controls: Vietnam — Processed titanium export ban

## Supply chain by step
- Mining (Ilmenite concentrate): China 34%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Upgrading (Titanium slag, synthetic rutile and TiCl4): not tracked yet
- Metal (Titanium sponge): China 70%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- End product (Mill products, aerospace and defence parts): not tracked yet

Processing gap: +36 percentage points (China 34% at mining → 70% at metal). This is separate from the supply risk index.
Most concentrated step: Metal (China 70%).

## Production by country (titanium sponge production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 256000 | 260000 | 70% |  |
| Japan | 57000 | 53000 | 14% |  |
| Russia | 33000 | 25000 | 7% |  |
| Kazakhstan | 19000 | 16000 | 4% |  |
| Saudi Arabia | 14000 | 12000 | 3% |  |
| India | 300 | 300 | 0% |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Iluka Resources (ILU.AX) — producer, mid-tier, HQ AU
- Uranium Energy Corp (UEC) — producer, mid-tier, HQ US; US: ISR uranium in Texas and Wyoming
- NioCorp Developments (NB) — developer, junior, HQ US; US: Elk Creek critical minerals project, Nebraska (pre-construction)

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Titanium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/titanium. Research and education only; not investment advice.

---

# Zirconium (Zr)

> Zircon sands feed ceramics and refractories; zirconium metal clads nuclear fuel rods.

Source page: https://critical-minerals.si/minerals/zirconium · JSON: https://critical-minerals.si/data/minerals/zirconium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Adequate. 
- Supply risk index: 15/100
- Top producer (2025): Australia (33%); China's share: 8%
- US net import reliance: <25%; main import sources: South Africa, Australia, Senegal
- On 6 of 10 government critical-mineral lists
- AI relevance: 1/3 (Power generation). Nuclear fuel cladding for the reactors increasingly contracted to power AI data centers; zirconia ceramics.

## Supply chain by step
- Mining (Zircon concentrate): China 8%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Refining (Zirconium chemicals and metal): China ~38%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 231
- Metal (Nuclear-grade zirconium and hafnium separation): not tracked yet
- End product (Fuel cladding, ceramics): not tracked yet

Processing gap: +30 percentage points (China 8% at mining → 38% at refining). This is separate from the supply risk index.
Most concentrated step: Refining (China 38%).

## Production by country (zircon concentrate mine production, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| Australia | 400 | 400 | 33% | 55000 |
| South Africa | 290 | 270 | 23% | 5900 |
| Mozambique | 124 | 160 | 13% | 1500 |
| United States | 100 | 100 | 8% | 500 |
| China | 100 | 100 | 8% | 500 |
| Senegal | 68 | 70 | 6% | 2600 |
| Indonesia | 81 | 52 | 4% | 3400 |
| Madagascar | 31 | 26 | 2% | 2100 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical

## Listed companies with exposure
- Iluka Resources (ILU.AX) — producer, mid-tier, HQ AU

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Zirconium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/zirconium. Research and education only; not investment advice.

---

# Chromium (Cr)

> What makes stainless steel stainless. South Africa produces close to half the world's chromite.

Source page: https://critical-minerals.si/minerals/chromium · JSON: https://critical-minerals.si/data/minerals/chromium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. South Africa introduced chromite ore export licensing in 2025.
- Supply risk index: 43/100
- Top producer (2025): South Africa (45%); China's share: 0%
- US net import reliance: 79%; main import sources: South Africa, Kazakhstan, Finland, Canada
- On 6 of 10 government critical-mineral lists
- AI relevance: 1/3 (Cooling & thermal, Power generation). Stainless steel in cooling loops, chillers and plumbing; superalloys in turbines.
- Export controls: South Africa — Chromite ore export licensing (2025); Vietnam — Raw chromite export ban

## Supply chain by step
- Mining (Mine production): China 0%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 0%).

## Production by country (mine production, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| South Africa | 22900 | 23000 | 45% | 110000 |
| Turkey | 9300 | 9000 | 18% | 5700 |
| Kazakhstan | 6100 | 7000 | 14% | 100000 |
| India | 3370 | 3000 | 6% | 27000 |
| Brazil | 1400 | 2000 | 4% | 1000 |
| Zimbabwe | 1600 | 2000 | 4% | 78000 |
| Finland | 1940 | 1900 | 4% | 16000 |
| United States |  |  | n/a | 630 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Chromium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/chromium. Research and education only; not investment advice.

---

# Magnesium (Mg)

> The lightest structural metal, used in aluminum alloys, die-cast parts and titanium production. China makes ~86% of the metal.

Source page: https://critical-minerals.si/minerals/magnesium · JSON: https://critical-minerals.si/data/minerals/magnesium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. China dominates magnesium metal (~86%) and added magnesium materials to export licensing in 2024.
- Supply risk index: 78/100
- Top producer (2025): China (86%); China's share: 86%
- US net import reliance: >75%; main import sources: Israel, Canada, Turkey, Czechia
- On 8 of 10 government critical-mineral lists
- AI relevance: 1/3 (Servers & hardware). Lightweight alloys in electronics housings and aluminum alloys used across data-center hardware.
- Export controls: China — Export licensing (2024)

## Supply chain by step
- Mining (Magnesite and other magnesium compounds): China 61%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Refining (Combined with smelting): not applicable. Magnesium is reduced directly to metal; see the next step.
- Smelting (Primary magnesium metal): China 86%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- End product (Aluminium alloys, die castings, titanium reduction): not tracked yet

Processing gap: +26 percentage points (China 60% at mining → 86% at smelting). This is separate from the supply risk index.
Most concentrated step: Smelting (China 86%).

## Production by country (magnesium metal smelter production, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 953 | 950 | 86% |  |
| Russia | 59 | 60 | 5% |  |
| Brazil | 20 | 20 | 2% |  |
| Israel | 17 | 20 | 2% |  |
| Turkey | 15 | 15 | 1% |  |
| Kazakhstan | 15 | 13 | 1% |  |
| Iran | 5 | 5 | 0% |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Magnesium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/magnesium. Research and education only; not investment advice.

---

# Beryllium (Be)

> An ultra-light, stiff metal used in aerospace, defense optics and copper-beryllium connectors. The US is the leading producer.

Source page: https://critical-minerals.si/minerals/beryllium · JSON: https://critical-minerals.si/data/minerals/beryllium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Adequate. 
- Supply risk index: 19/100
- Top producer (2025): United States (53%); China's share: 18%
- US net import reliance: net exporter; main import sources: Kazakhstan
- On 5 of 10 government critical-mineral lists
- AI relevance: 1/3 (Servers & hardware, Cooling & thermal). Copper-beryllium springs and connectors in high-reliability electronics; beryllium oxide heat spreaders.

## Supply chain by step
- Mining (Mine production): China 18%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 18%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| United States | 230 | 230 | 53% |  |
| Brazil | 80 | 80 | 19% |  |
| China | 78 | 77 | 18% |  |
| Nigeria | 40 | 40 | 9% |  |
| Mozambique | 3 | 3 | 1% |  |
| Madagascar | 1 | 1 | 0% |  |
| Rwanda | 1 | 1 | 0% |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Beryllium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/beryllium. Research and education only; not investment advice.

---

# Rhenium (Re)

> One of the rarest elements in Earth's crust, recovered from molybdenum in copper ores and used in jet-engine and gas-turbine superalloys.

Source page: https://critical-minerals.si/minerals/rhenium · JSON: https://critical-minerals.si/data/minerals/rhenium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. 
- Supply risk index: 33/100
- Top producer (2025): Chile (37%); China's share: 25%
- US net import reliance: 75%; main import sources: Chile, Canada, Germany, Poland
- On 4 of 10 government critical-mineral lists
- AI relevance: 1/3 (Power generation). Superalloys for the gas turbines increasingly deployed as on-site power for AI data centers.

## Supply chain by step
- Mining (Mine production): China 25%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 25%).

## Production by country (mine production, kilograms)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| Chile | 29000 | 30000 | 37% | 1300000 |
| China | 20000 | 20000 | 25% | 200000 |
| Poland | 9400 | 10000 | 12% |  |
| United States | 9310 | 9800 | 12% | 400000 |
| Uzbekistan | 7400 | 7000 | 9% |  |
| South Korea | 3000 | 3000 | 4% |  |
| Kazakhstan | 1500 | 1000 | 1% | 190000 |
| Armenia | 200 | 200 | 0% | 95000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United Kingdom — 2024 Criticality Assessment (2024): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Rhenium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/rhenium. Research and education only; not investment advice.

---

# Bismuth (Bi)

> A heavy, non-toxic metal used in pharmaceuticals, low-melt solders and lead-free alloys. China refines ~88%.

Source page: https://critical-minerals.si/minerals/bismuth · JSON: https://critical-minerals.si/data/minerals/bismuth.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. China added bismuth to export licensing in 2025 and refines ~88% of supply.
- Supply risk index: 81/100
- Top producer (2025): China (88%); China's share: 88%
- US net import reliance: 92%; main import sources: China, Republic of Korea, Germany
- On 8 of 10 government critical-mineral lists
- AI relevance: 1/3 (Servers & hardware, Cooling & thermal). Low-temperature bismuth-tin solders for assembling heat-sensitive electronics; bismuth telluride thermoelectric coolers.
- Export controls: China — Export licensing (2025)

## Supply chain by step
- Mining (No primary mines): not applicable. Recovered as a by-product of lead and tungsten processing.
- Refining (Refined metal): China 88%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Material (Compounds and high-purity forms): not tracked yet
- End product (Components): not tracked yet

Most concentrated step: Refining (China 88%).

## Production by country (refinery production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 14000 | 14000 | 88% |  |
| South Korea | 1000 | 1000 | 6% |  |
| Japan | 500 | 500 | 3% |  |
| Laos | 492 | 500 | 3% |  |
| Kazakhstan | 180 | 180 | 1% |  |
| Bolivia | 50 | 50 | 0% |  |
| Bulgaria | 48 | 50 | 0% |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Korea Zinc (010130.KS) — processor, major, HQ KR; US: Planned critical-metals smelter in Clarksville, Tennessee
- 5N Plus (VNP.TO) — processor, mid-tier, HQ CA; US: Specialty semiconductor plant in St. George, Utah

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Bismuth — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/bismuth. Research and education only; not investment advice.

---

# Scandium (Sc)

> A tiny market (~80 t/yr) with outsized uses in aluminum-scandium alloys, solid-oxide fuel cells, and ScAlN for 5G RF filters.

Source page: https://critical-minerals.si/minerals/scandium · JSON: https://critical-minerals.si/data/minerals/scandium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. Scandium was among the rare earths placed under China's April 2025 export controls; China is the leading source.
- Supply risk index: 76/100
- Top producer (2025): China; China's share: n/a
- US net import reliance: 100%; main import sources: Japan, China
- On 4 of 10 government critical-mineral lists
- AI relevance: 2/3 (Power generation, Chips & fabs). Solid-oxide fuel cells are being deployed as on-site power for data centers; scandium-aluminum nitride in RF chips.
- Export controls: China — Export licensing (2025)

## Supply chain by step
No step-by-step country data yet.

## Production by country
No country breakdown published.

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- NioCorp Developments (NB) — developer, junior, HQ US; US: Elk Creek critical minerals project, Nebraska (pre-construction)

## Sources
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Scandium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/scandium. Research and education only; not investment advice.

---

# Strontium (Sr)

> Mined as celestite for drilling fluids, ceramic ferrite magnets and aluminum alloys.

Source page: https://critical-minerals.si/minerals/strontium · JSON: https://critical-minerals.si/data/minerals/strontium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Adequate. 
- Supply risk index: 34/100
- Top producer (2025): Iran (56%); China's share: 18%
- US net import reliance: 100%; main import sources: Mexico, Germany, China
- On 4 of 10 government critical-mineral lists
- AI relevance: 0/3 (). Minor role — ferrite magnets and specialty glass.

## Supply chain by step
- Mining (Mine production): China 18%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 18%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| Iran | 200000 | 250000 | 56% | 2000000 |
| Spain | 100000 | 100000 | 22% |  |
| China | 80000 | 80000 | 18% | 12000000 |
| Mexico | 19000 | 20000 | 4% |  |
| Argentina | 700 | 700 | 0% |  |

## Government lists
- European Union — Critical & Strategic Raw Materials (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): critical

## Listed companies with exposure
- None tracked yet

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Strontium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/strontium. Research and education only; not investment advice.

---

# Cesium (Cs)

> A soft alkali metal that defines the second: cesium atomic clocks underpin GPS and network timing.

Source page: https://critical-minerals.si/minerals/cesium · JSON: https://critical-minerals.si/data/minerals/cesium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. The US is 100% import reliant; no world production data published.
- Supply risk index: 40/100
- Top producer (2025): n/a; China's share: n/a
- US net import reliance: 100%; main import sources: China, Germany
- On 3 of 10 government critical-mineral lists
- AI relevance: 1/3 (Optical networking). Atomic clocks and precision timing that synchronize telecom and data networks.

## Supply chain by step
No step-by-step country data yet.

## Production by country
No country breakdown published.

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- Japan — Critical Minerals (35 mineral species) (2023): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Cesium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/cesium. Research and education only; not investment advice.

---

# Rubidium (Rb)

> An alkali metal used in atomic clocks and research — and, per USGS, in data-network synchronization.

Source page: https://critical-minerals.si/minerals/rubidium · JSON: https://critical-minerals.si/data/minerals/rubidium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. The US is 100% import reliant.
- Supply risk index: 40/100
- Top producer (2025): n/a; China's share: n/a
- US net import reliance: 100%; main import sources: China, Germany, Russia
- On 1 of 10 government critical-mineral lists
- AI relevance: 1/3 (Optical networking). USGS lists data-network syncing among rubidium's primary applications via rubidium frequency standards.

## Supply chain by step
No step-by-step country data yet.

## Production by country
No country breakdown published.

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical

## Listed companies with exposure
- None tracked yet

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Rubidium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/rubidium. Research and education only; not investment advice.

---

# Platinum (Pt)

> A precious catalyst metal for vehicle exhausts, hydrogen fuel cells and glass-fiber production. South Africa supplies ~71%.

Source page: https://critical-minerals.si/minerals/platinum · JSON: https://critical-minerals.si/data/minerals/platinum.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. South Africa ~71% of mine output.
- Supply risk index: 39/100
- Top producer (2025): South Africa (71%); China's share: 0%
- US net import reliance: 89%; main import sources: South Africa, Belgium, Germany, Italy
- On 9 of 10 government critical-mineral lists
- AI relevance: 1/3 (Backup & storage, Servers & hardware). Hydrogen fuel cells for backup power; platinum used in hard-disk platters and sensors.

## Supply chain by step
- Mining (Mine production): China 0%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 0%).

## Production by country (mine production, kilograms)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| South Africa | 126000 | 120000 | 71% | 63000000 |
| Russia | 22000 | 20000 | 12% | 11000000 |
| Zimbabwe | 18400 | 18000 | 11% | 1300000 |
| Canada | 5700 | 5000 | 3% | 310000 |
| United States | 3010 | 1800 | 1% | 590000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): group
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- Ivanhoe Mines (IVN.TO) — producer, major, HQ CA
- Umicore (UMI.BR) — processor, mid-tier, HQ BE
- Anglo American (AAL.L) — major, major, HQ GB
- Sibanye-Stillwater (SBSW) — producer, mid-tier, HQ ZA; US: Stillwater and East Boulder PGM mines and Columbus metallurgical complex, Montana

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Platinum — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/platinum. Research and education only; not investment advice.

---

# Palladium (Pd)

> Mostly used in gasoline catalytic converters, but also in multilayer ceramic capacitors and electronic plating. Russia and South Africa dominate.

Source page: https://critical-minerals.si/minerals/palladium · JSON: https://critical-minerals.si/data/minerals/palladium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Russia (~44%) and South Africa (~37%) together supply most mined palladium.
- Supply risk index: 28/100
- Top producer (2025): Russia (44%); China's share: 0%
- US net import reliance: 57%; main import sources: South Africa, Russia, Belgium, Canada
- On 7 of 10 government critical-mineral lists
- AI relevance: 2/3 (Servers & hardware, Chips & fabs). Palladium electrodes and plating in multilayer ceramic capacitors (MLCCs) and connectors on server boards.

## Supply chain by step
- Mining (Mine production): China 0%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 0%).

## Production by country (mine production, kilograms)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| Russia | 89000 | 84000 | 44% | 11000000 |
| South Africa | 82600 | 70000 | 37% | 63000000 |
| Canada | 17000 | 16000 | 8% | 310000 |
| Zimbabwe | 15200 | 15000 | 8% | 1300000 |
| United States | 10200 | 6200 | 3% | 590000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- Japan — Critical Minerals (35 mineral species) (2023): group
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): critical
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- Anglo American (AAL.L) — major, major, HQ GB
- Sibanye-Stillwater (SBSW) — producer, mid-tier, HQ ZA; US: Stillwater and East Boulder PGM mines and Columbus metallurgical complex, Montana

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Palladium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/palladium. Research and education only; not investment advice.

---

# Rhodium (Rh)

> The rarest and often priciest PGM, used in catalytic converters and glass-fiber bushings.

Source page: https://critical-minerals.si/minerals/rhodium · JSON: https://critical-minerals.si/data/minerals/rhodium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Produced with platinum, mainly in South Africa.
- Supply risk index: 44/100
- Top producer (2025): n/a; China's share: n/a
- US net import reliance: n/a
- On 7 of 10 government critical-mineral lists
- AI relevance: 0/3 (). Indirect — glass-fiber manufacturing equipment.
- Export controls: Venezuela — Export ban (2024)

## Supply chain by step
No step-by-step country data yet.

## Production by country
No country breakdown published.

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): group
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- Sibanye-Stillwater (SBSW) — producer, mid-tier, HQ ZA; US: Stillwater and East Boulder PGM mines and Columbus metallurgical complex, Montana

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Rhodium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/rhodium. Research and education only; not investment advice.

---

# Iridium (Ir)

> The most corrosion-resistant metal, critical for PEM electrolyzers that make green hydrogen and for crucibles that grow crystals.

Source page: https://critical-minerals.si/minerals/iridium · JSON: https://critical-minerals.si/data/minerals/iridium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Annual supply is only a few tonnes, mostly from South Africa.
- Supply risk index: 32/100
- Top producer (2025): n/a; China's share: n/a
- US net import reliance: n/a
- On 8 of 10 government critical-mineral lists
- AI relevance: 1/3 (Chips & fabs, Backup & storage). Crucibles for growing crystals used in electronics; electrolyzers for hydrogen backup power.

## Supply chain by step
No step-by-step country data yet.

## Production by country
No country breakdown published.

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): group
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- None tracked yet

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Iridium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/iridium. Research and education only; not investment advice.

---

# Ruthenium (Ru)

> A PGM used in hard-disk drives, chip resistors and — increasingly — as a next-generation chip interconnect metal.

Source page: https://critical-minerals.si/minerals/ruthenium · JSON: https://critical-minerals.si/data/minerals/ruthenium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Byproduct of platinum mining, concentrated in South Africa.
- Supply risk index: 32/100
- Top producer (2025): n/a; China's share: n/a
- US net import reliance: n/a
- On 7 of 10 government critical-mineral lists
- AI relevance: 3/3 (Chips & fabs, Servers & hardware). Ruthenium thin films are used in hard-disk media and are a leading candidate to replace copper in the tightest chip interconnects; USGS lists computer chips as a primary use.

## Supply chain by step
No step-by-step country data yet.

## Production by country
No country breakdown published.

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Japan — Critical Minerals (35 mineral species) (2023): group
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- None tracked yet

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Ruthenium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/ruthenium. Research and education only; not investment advice.

---

# Silver (Ag)

> The most electrically conductive element — used in solar cells, electrical contacts, brazing and electronics.

Source page: https://critical-minerals.si/minerals/silver · JSON: https://critical-minerals.si/data/minerals/silver.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Added to the US critical list in 2025; China added silver to export licensing in 2026.
- Supply risk index: 48/100
- Top producer (2025): Mexico (24%); China's share: 13%
- US net import reliance: 77%; main import sources: Mexico, Canada, Chile, Turkey
- On 1 of 10 government critical-mineral lists
- AI relevance: 2/3 (Chips & fabs, Servers & hardware, Power generation). Silver pastes, contacts and sintering materials in power electronics and chip packaging; silver is the largest input cost in solar cells.
- Export controls: China — Export licensing (2026); Tanzania — Concentrate export ban (2017); Venezuela — Export ban (2024)

## Supply chain by step
- Mining (Mine production): China 13%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 13%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| Mexico | 5780 | 6300 | 24% | 37000 |
| Peru | 3510 | 3600 | 14% | 110000 |
| China | 3430 | 3400 | 13% | 67000 |
| Bolivia | 1490 | 1500 | 6% | 22000 |
| Chile | 1200 | 1400 | 5% | 33000 |
| Poland | 1320 | 1300 | 5% | 59000 |
| Russia | 1280 | 1200 | 5% | 92000 |
| United States | 1050 | 1100 | 4% | 23000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical

## Listed companies with exposure
- Southern Copper (SCCO) — producer, major, HQ US

## Sources
- USGS Final 2025 List of Critical Minerals: https://www.usgs.gov/news/science-snippet/interior-department-releases-final-2025-list-critical-minerals
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Silver — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/silver. Research and education only; not investment advice.

---

# Gold (Au)

> Beyond bullion, gold plates connectors and bonds chips. Listed as a strategic mineral by China.

Source page: https://critical-minerals.si/minerals/gold · JSON: https://critical-minerals.si/data/minerals/gold.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Adequate. 
- Supply risk index: 27/100
- Top producer (2025): China (12%); China's share: 12%
- US net import reliance: n/a
- On 1 of 10 government critical-mineral lists
- AI relevance: 1/3 (Chips & fabs, Servers & hardware). Gold wire bonding and connector plating in electronics.
- Export controls: Tanzania — Concentrate export ban (2017); Venezuela — Export ban (2024)

## Supply chain by step
- Mining (Mine production): China 12%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 12%).

## Production by country (mine production, metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 377 | 380 | 12% | 3200 |
| Russia | 310 | 310 | 9% | 12000 |
| Australia | 284 | 280 | 8% | 13000 |
| Canada | 200 | 200 | 6% | 3200 |
| United States | 163 | 160 | 5% | 3000 |
| Ghana | 149 | 150 | 5% | 1000 |
| Mexico | 140 | 140 | 4% | 1400 |
| Kazakhstan | 130 | 130 | 4% | 2300 |

## Government lists
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic

## Listed companies with exposure
- Freeport-McMoRan (FCX) — producer, major, HQ US; US: Morenci and other copper mines in Arizona and New Mexico; molybdenum mines in Colorado
- First Quantum Minerals (FQVLF) — producer, major, HQ CA
- Antofagasta (ANTO.L) — producer, major, HQ GB; US: Twin Metals copper-nickel project, Minnesota (development)
- Hudbay Minerals (HBM) — producer, major, HQ CA; US: Copper World project, Arizona (development)
- Zijin Mining (601899.SS) — producer, major, HQ CN
- Jiangxi Copper (600362.SS) — producer, major, HQ CN
- Perpetua Resources (PPTA) — developer, mid-tier, HQ US; US: Stibnite gold-antimony project, Idaho
- Idaho Strategic Resources (IDR) — producer, junior, HQ US; US: Golden Chest gold mine and Lemhi Pass rare-earth claims, Idaho
- Sibanye-Stillwater (SBSW) — producer, mid-tier, HQ ZA; US: Stillwater and East Boulder PGM mines and Columbus metallurgical complex, Montana

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Gold — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/gold. Research and education only; not investment advice.

---

# Fluorspar (F)

> The source of fluorine for hydrofluoric acid, refrigerants, battery electrolytes and fluoropolymers. China mines ~60%.

Source page: https://critical-minerals.si/minerals/fluorspar · JSON: https://critical-minerals.si/data/minerals/fluorspar.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. China ~60% of mine output; US is 100% import reliant.
- Supply risk index: 50/100
- Top producer (2025): China (60%); China's share: 60%
- US net import reliance: 100%; main import sources: Mexico, Vietnam, China, South Africa
- On 7 of 10 government critical-mineral lists
- AI relevance: 2/3 (Chips & fabs, Cooling & thermal, Backup & storage). Ultra-pure fluorine chemicals etch and clean wafers in every fab; fluorinated fluids and refrigerants cool data centers; LiPF6 battery electrolyte.

## Supply chain by step
- Mining (Mine production): China 60%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 60%).

## Production by country (mine production, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 6000 | 6000 | 60% | 110000 |
| Mexico | 1510 | 1500 | 15% | 68000 |
| Mongolia | 1430 | 1500 | 15% | 34000 |
| South Africa | 447 | 410 | 4% | 41000 |
| Vietnam | 146 | 160 | 2% | 16000 |
| Spain | 138 | 140 | 1% | 15000 |
| Brazil | 85 | 100 | 1% | 2500 |
| Iran | 53 | 70 | 1% | 7600 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- Australia — Critical Minerals List & Strategic Materials List (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Fluorspar — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/fluorspar. Research and education only; not investment advice.

---

# Helium (He)

> An irreplaceable inert gas recovered from natural gas, used in chip fabs, MRI scanners, fiber-optic drawing and leak detection.

Source page: https://critical-minerals.si/minerals/helium · JSON: https://critical-minerals.si/data/minerals/helium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. Strikes on Qatar's Ras Laffan complex in early 2026 halted a major source of supply and roughly doubled helium spot prices.
- Supply risk index: 35/100
- Top producer (2025): United States (43%); China's share: 2%
- US net import reliance: n/a
- On 3 of 10 government critical-mineral lists
- AI relevance: 3/3 (Chips & fabs, Optical networking). Fabs use helium for wafer cooling, lithography and inert atmospheres; fiber-optic production uses helium during drawing.

## Supply chain by step
- Mining (Production): China 2%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 2%).

## Production by country (production, million cubic meters)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| United States | 80 | 81 | 43% | 8500 |
| Qatar | 64 | 63 | 33% |  |
| Russia | 17 | 18 | 9% | 1700 |
| Algeria | 11 | 11 | 6% | 1800 |
| Canada | 6 | 6 | 3% |  |
| China | 3 | 3 | 2% |  |
| Poland | 3 | 3 | 2% | 24 |
| South Africa |  |  | n/a | 400 |

## Government lists
- European Union — Critical & Strategic Raw Materials (2024): critical
- United Kingdom — 2024 Criticality Assessment (2024): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources
- Reuters — Helium prices soar as Qatar LNG halt exposes supply chain (Mar 2026): https://www.reuters.com/business/energy/helium-prices-soar-qatar-lng-halt-exposes-fragile-supply-chain-2026-03-12/
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Helium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/helium. Research and education only; not investment advice.

---

# Barite (Ba)

> A dense mineral used mainly to weight oil-and-gas drilling fluids, and in medical imaging.

Source page: https://critical-minerals.si/minerals/barite · JSON: https://critical-minerals.si/data/minerals/barite.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Adequate. 
- Supply risk index: 27/100
- Top producer (2025): India (34%); China's share: 25%
- US net import reliance: >75%; main import sources: India, China, Morocco, Mexico
- On 2 of 10 government critical-mineral lists
- AI relevance: 0/3 (). Minimal direct role.

## Supply chain by step
- Mining (Mine production): China 25%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 25%).

## Production by country (mine production, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| India | 2600 | 3000 | 34% | 51000 |
| China | 2100 | 2200 | 25% | 120000 |
| Morocco | 930 | 1000 | 11% |  |
| Kazakhstan | 650 | 700 | 8% | 85000 |
| Iran | 300 | 300 | 3% | 100000 |
| Mexico | 244 | 300 | 3% |  |
| Laos | 250 | 260 | 3% |  |
| Turkey | 261 | 260 | 3% | 34000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Barite — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/barite. Research and education only; not investment advice.

---

# Feldspar (Fsp)

> The most abundant mineral group in Earth's crust, used in glass and ceramics. Listed as critical by the EU.

Source page: https://critical-minerals.si/minerals/feldspar · JSON: https://critical-minerals.si/data/minerals/feldspar.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Adequate. 
- Supply risk index: 17/100
- Top producer (2025): India (19%); China's share: 12%
- US net import reliance: n/a
- On 1 of 10 government critical-mineral lists
- AI relevance: 0/3 (Construction & facilities). Glass and ceramics for construction.

## Supply chain by step
- Mining (Mine production): China 12%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 12%).

## Production by country (mine production, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| India | 6000 | 6000 | 19% | 320000 |
| Turkey | 5274 | 5300 | 17% | 720000 |
| Iran | 3900 | 3900 | 13% | 130000 |
| China | 3700 | 3700 | 12% | 730000 |
| Italy | 2200 | 2200 | 7% |  |
| Thailand | 1900 | 1900 | 6% | 45000 |
| South Korea | 990 | 1000 | 3% | 200000 |
| Morocco | 720 | 720 | 2% |  |

## Government lists
- European Union — Critical & Strategic Raw Materials (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Feldspar — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/feldspar. Research and education only; not investment advice.

---

# Magnesite (MgCO₃)

> Magnesium carbonate ore used for refractories that line steel furnaces and as a source of magnesium compounds.

Source page: https://critical-minerals.si/minerals/magnesite · JSON: https://critical-minerals.si/data/minerals/magnesite.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. China dominates magnesite mine output.
- Supply risk index: 44/100
- Top producer (2025): China (60%); China's share: 60%
- US net import reliance: 59%; main import sources: China, Brazil, Canada, Israel
- On 1 of 10 government critical-mineral lists
- AI relevance: 0/3 (). Indirect — refractories for steel production.

## Supply chain by step
- Mining (Magnesite mine production): China 61%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 61%).

## Production by country (magnesite mine production, thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 12900 | 12700 | 60% | 700000 |
| Brazil | 1850 | 1800 | 9% | 200000 |
| Russia | 1690 | 1700 | 8% | 2300000 |
| Turkey | 1600 | 1600 | 8% | 110000 |
| Austria | 664 | 650 | 3% | 49000 |
| Spain | 655 | 640 | 3% | 35000 |
| Australia | 410 | 400 | 2% | 280000 |
| Slovakia | 334 | 330 | 2% | 1200000 |

## Government lists
- United Kingdom — 2024 Criticality Assessment (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Magnesite — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/magnesite. Research and education only; not investment advice.

---

# Sodium (Na)

> Abundant and cheap — listed by the UK as critical, partly for its role in emerging sodium-ion batteries.

Source page: https://critical-minerals.si/minerals/sodium · JSON: https://critical-minerals.si/data/minerals/sodium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Adequate. 
- Supply risk index: 26/100
- Top producer (2025): n/a; China's share: n/a
- US net import reliance: n/a
- On 1 of 10 government critical-mineral lists
- AI relevance: 1/3 (Backup & storage). Sodium-ion batteries are an emerging low-cost option for stationary storage.

## Supply chain by step
No step-by-step country data yet.

## Production by country
No country breakdown published.

## Government lists
- United Kingdom — 2024 Criticality Assessment (2024): critical

## Listed companies with exposure
- None tracked yet

## Sources

- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Sodium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/sodium. Research and education only; not investment advice.

---

# Uranium (U)

> The fuel of nuclear power. Hyperscalers have signed agreements to restart and build reactors to power AI.

Source page: https://critical-minerals.si/minerals/uranium · JSON: https://critical-minerals.si/data/minerals/uranium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Added to the US critical list in 2025; USGS does not collect uranium data. Russia banned enriched uranium exports to the US in 2024.
- Supply risk index: 44/100
- Top producer (2025): n/a; China's share: n/a
- US net import reliance: n/a
- On 4 of 10 government critical-mineral lists
- AI relevance: 2/3 (Power generation). Nuclear power purchase agreements and small modular reactors are a growing source of firm, carbon-free power for AI data centers.
- Export controls: Russia — Enriched uranium export ban

## Supply chain by step
- Mining (Uranium ore and concentrate): top 3 countries ~70%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 225. Six companies control 88% of supply, so ownership is more concentrated than geography.
- Conversion (Uranium hexafluoride (UF6)): top 3 countries ~70%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 226. Only five commercial-scale plants (Rosatom, Cameco, Orano, ConverDyn, CNNC).
- Enrichment (Low-enriched uranium): top 3 countries ~70%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 226. Four companies handle 92% of enrichment; Russian supply to the US is to be phased out by 2028.
- Fuel fabrication (Fuel assemblies): top 3 countries 47%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 227. Top three regions; assembly lines sit close to reactor fleets.

Equally most concentrated at: Mining, Conversion, Enrichment (top 3 countries 70%).

## Production by country
No country breakdown published.

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- Japan — Critical Minerals (35 mineral species) (2023): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- Energy Fuels (UUUU) — producer, mid-tier, HQ US; US: White Mesa Mill, Utah (uranium and rare-earth separation) and US uranium mines
- Cameco (CCJ) — producer, major, HQ CA; US: Smith Ranch-Highland (WY) and Crow Butte (NE) ISR uranium
- Kazatomprom (KAP.L) — producer, major, HQ KZ
- NexGen Energy (NXE) — developer, mid-tier, HQ CA
- Uranium Energy Corp (UEC) — producer, mid-tier, HQ US; US: ISR uranium in Texas and Wyoming
- Denison Mines (DNN) — developer, mid-tier, HQ CA
- Sprott Physical Uranium Trust (SRUUF) — trust, fund, HQ US
- Global X Uranium ETF (URA) — etf, fund, HQ US
- Sprott Uranium Miners ETF (URNM) — etf, fund, HQ US
- Sprott Junior Uranium Miners ETF (URNJ) — etf, fund, HQ US
- Sprott Critical Materials ETF (SETM) — etf, fund, HQ US
- Ur-Energy (URG) — producer, junior, HQ US; US: Lost Creek and Shirley Basin ISR uranium, Wyoming
- enCore Energy (EU) — producer, junior, HQ US; US: Alta Mesa and Rosita ISR uranium plants, South Texas
- Centrus Energy (LEU) — processor, mid-tier, HQ US; US: American Centrifuge Plant, Piketon, Ohio (enrichment)

## Sources
- USGS Final 2025 List of Critical Minerals: https://www.usgs.gov/news/science-snippet/interior-department-releases-final-2025-list-critical-minerals
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Uranium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/uranium. Research and education only; not investment advice.

---

# Metallurgical Coal (MC)

> Coking coal used to make the coke that reduces iron ore to steel. Added to the US list in 2025 and listed by the EU.

Source page: https://critical-minerals.si/minerals/met_coal · JSON: https://critical-minerals.si/data/minerals/met_coal.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Adequate. USGS does not collect metallurgical coal data.
- Supply risk index: 26/100
- Top producer (2025): n/a; China's share: n/a
- US net import reliance: n/a
- On 3 of 10 government critical-mineral lists
- AI relevance: 0/3 (Construction & facilities). Indirect — steel for structures and transformers.

## Supply chain by step
No step-by-step country data yet.

## Production by country
No country breakdown published.

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): critical

## Listed companies with exposure
- Ramaco Resources (METC) — producer, junior, HQ US; US: Met coal mines in West Virginia and Virginia; Brook Mine rare earths, Wyoming

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Metallurgical Coal — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/met_coal. Research and education only; not investment advice.

---

# Potash (K)

> Potassium salts that fertilize the world's crops. Canada, Russia and Belarus dominate supply.

Source page: https://critical-minerals.si/minerals/potash · JSON: https://critical-minerals.si/data/minerals/potash.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Canada (~31%) plus Russia and Belarus supply most of the world.
- Supply risk index: 32/100
- Top producer (2025): Canada (31%); China's share: 13%
- US net import reliance: 92%; main import sources: Canada, Russia, Israel
- On 4 of 10 government critical-mineral lists
- AI relevance: 0/3 (). No direct role — food security.

## Supply chain by step
- Mining (Mine production (k2o equivalent)): China 13%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Processing (Refining, separation or chemicals): not tracked yet
- Metal / material (Metal, alloy or intermediate): not tracked yet
- End product (Finished component): not tracked yet

Most concentrated step: Mining (China 13%).

## Production by country (mine production (K2O equivalent), thousand metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| Canada | 14400 | 15000 | 31% | 1100000 |
| Russia | 10000 | 10000 | 20% | 2000000 |
| China | 6300 | 6300 | 13% | 200000 |
| Belarus | 5000 | 6000 | 12% | 750000 |
| Germany | 2500 | 3000 | 6% | 150000 |
| Laos | 2400 | 2400 | 5% | 1000000 |
| Israel | 2260 | 2000 | 4% |  |
| Jordan | 1730 | 1800 | 4% |  |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): strategic
- India — 30 Critical Minerals for India (2023): critical
- Canada — Canada's Critical Minerals List (2024): critical

## Listed companies with exposure
- SQM (SQM) — producer, major, HQ CL
- BHP Group (BHP) — major, major, HQ AU; US: 45% of the Resolution Copper project, Arizona (development)

## Sources
- USGS Mineral Commodity Summaries 2026 data release (CC0): https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Potash — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/potash. Research and education only; not investment advice.

---

# Lanthanum (La)

> Used in catalysts that refine petroleum, nickel-metal-hydride batteries and high-index optical glass.

Source page: https://critical-minerals.si/minerals/lanthanum · JSON: https://critical-minerals.si/data/minerals/lanthanum.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Mined alongside other rare earths; China dominates separation (≈85% of refining in 2025).
- Supply risk index: 69/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 9 of 10 government critical-mineral lists
- AI relevance: 1/3 (Optical networking). Fluid-catalytic-cracking catalysts and optical glass; some hydrogen storage alloys.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore (oxide equivalent, all elements)): China 69%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Separation (Separated oxide of this element): not tracked yet. The IEA publishes separation shares only for magnet rare earths (China 85% in 2025).
- Metal / material (Metal, phosphor, catalyst or alloy): not tracked yet
- End product (Catalysts, phosphors, lasers, alloys, medical uses): not tracked yet

Most concentrated step: Mining (China 69%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): group
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): strategic
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- MP Materials (MP) — producer, mid-tier, HQ US; US: Mountain Pass rare-earth mine (CA) and Independence magnet plant (TX)
- China Northern Rare Earth (600111.SS) — producer, major, HQ CN
- China Rare Earth Resources & Technology (000831.SZ) — producer, mid-tier, HQ CN

## Sources
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Lanthanum — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/lanthanum. Research and education only; not investment advice.

---

# Cerium (Ce)

> The most abundant rare earth — used for glass polishing, catalytic converters and ceramics.

Source page: https://critical-minerals.si/minerals/cerium · JSON: https://critical-minerals.si/data/minerals/cerium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Mined alongside other rare earths; China dominates separation (≈85% of refining in 2025).
- Supply risk index: 69/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 9 of 10 government critical-mineral lists
- AI relevance: 2/3 (Chips & fabs). Cerium oxide slurries polish silicon wafers flat during chemical-mechanical planarization (CMP) in chip fabs.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore (oxide equivalent, all elements)): China 69%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Separation (Separated oxide of this element): not tracked yet. The IEA publishes separation shares only for magnet rare earths (China 85% in 2025).
- Metal / material (Metal, phosphor, catalyst or alloy): not tracked yet
- End product (Catalysts, phosphors, lasers, alloys, medical uses): not tracked yet

Most concentrated step: Mining (China 69%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): group
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): strategic
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- MP Materials (MP) — producer, mid-tier, HQ US; US: Mountain Pass rare-earth mine (CA) and Independence magnet plant (TX)
- China Northern Rare Earth (600111.SS) — producer, major, HQ CN
- China Rare Earth Resources & Technology (000831.SZ) — producer, mid-tier, HQ CN

## Sources
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Cerium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/cerium. Research and education only; not investment advice.

---

# Praseodymium (Pr)

> Partners with neodymium in NdPr magnets — the strongest permanent magnets made.

Source page: https://critical-minerals.si/minerals/praseodymium · JSON: https://critical-minerals.si/data/minerals/praseodymium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. China dominates NdPr separation and magnets; a 10-year US price floor of $110/kg backs domestic NdPr output.
- Supply risk index: 78/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 9 of 10 government critical-mineral lists
- AI relevance: 2/3 (Cooling & thermal, Servers & hardware). NdPr magnets spin the motors in cooling fans, pumps, chillers and hard-disk drives across data centers.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore and concentrate): China ~60%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 182. IEA figure for magnet rare earths. For all rare earths, USGS puts China at 69% of 2025 mining, the US at 13% and Australia at 7%.
- Separation (Separated rare earth oxides): China 85%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 182. Down from 90% in 2024 as new US projects and Malaysian output added supply. The IEA's dedicated rare earths report gives 91% for 2024.
- Metal and alloy (Rare earth metals and NdFeB alloy): not tracked yet. Not reported separately. The IEA counts only about 18 kt of planned metal, alloy and magnet capacity outside China by 2035 (rare earth content).
- Magnets (Sintered NdFeB permanent magnets): China 94%, 2024 — IEA, Rare Earth Elements report: executive summary (CC BY 4.0). China's share was around 50% in 2005.

Processing gap: +34 percentage points (China 60% at mining → 94% at magnets). This is separate from the supply risk index.
Most concentrated step: Magnets (China 94%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- MP Materials (MP) — producer, mid-tier, HQ US; US: Mountain Pass rare-earth mine (CA) and Independence magnet plant (TX)
- Lynas Rare Earths (LYC.AX) — producer, mid-tier, HQ AU; US: Planned rare-earth processing plant in Seadrift, Texas
- Arafura Rare Earths (ARU.AX) — developer, junior, HQ AU
- Ucore Rare Metals (UCU.V) — developer, junior, HQ CA; US: Louisiana Strategic Metals Complex, Alexandria (rare-earth separation, under development)
- American Rare Earths (ARRNF) — developer, junior, HQ AU; US: Halleck Creek rare-earth project, Wyoming (exploration)

## Sources
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- Silverado Policy Accelerator — Rare Earth Trade Report (Sep 2026): https://silverado.org/publications/rare-earth-trade-report/
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Praseodymium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/praseodymium. Research and education only; not investment advice.

---

# Neodymium (Nd)

> The 'Nd' in NdFeB magnets inside EV motors, wind turbines, speakers and hard drives.

Source page: https://critical-minerals.si/minerals/neodymium · JSON: https://critical-minerals.si/data/minerals/neodymium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. China dominates NdPr separation and magnets; a 10-year US price floor of $110/kg backs domestic NdPr output.
- Supply risk index: 78/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 10 of 10 government critical-mineral lists
- AI relevance: 2/3 (Cooling & thermal, Servers & hardware, Power generation). Permanent magnets in hard-disk drives, cooling fans, pumps and chiller motors; wind turbines supplying renewable PPAs.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore and concentrate): China ~60%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 182. IEA figure for magnet rare earths. For all rare earths, USGS puts China at 69% of 2025 mining, the US at 13% and Australia at 7%.
- Separation (Separated rare earth oxides): China 85%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 182. Down from 90% in 2024 as new US projects and Malaysian output added supply. The IEA's dedicated rare earths report gives 91% for 2024.
- Metal and alloy (Rare earth metals and NdFeB alloy): not tracked yet. Not reported separately. The IEA counts only about 18 kt of planned metal, alloy and magnet capacity outside China by 2035 (rare earth content).
- Magnets (Sintered NdFeB permanent magnets): China 94%, 2024 — IEA, Rare Earth Elements report: executive summary (CC BY 4.0). China's share was around 50% in 2005.

Processing gap: +34 percentage points (China 60% at mining → 94% at magnets). This is separate from the supply risk index.
Most concentrated step: Magnets (China 94%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): strategic
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- MP Materials (MP) — producer, mid-tier, HQ US; US: Mountain Pass rare-earth mine (CA) and Independence magnet plant (TX)
- Lynas Rare Earths (LYC.AX) — producer, mid-tier, HQ AU; US: Planned rare-earth processing plant in Seadrift, Texas
- USA Rare Earth (USAR) — developer, mid-tier, HQ US; US: Stillwater, Oklahoma magnet plant and Round Top deposit, Texas
- Neo Performance Materials (NEO.TO) — processor, junior, HQ CA
- Arafura Rare Earths (ARU.AX) — developer, junior, HQ AU
- China Northern Rare Earth (600111.SS) — producer, major, HQ CN
- VanEck Rare Earth & Strategic Metals ETF (REMX) — etf, fund, HQ US
- Sprott Critical Materials ETF (SETM) — etf, fund, HQ US
- Ramaco Resources (METC) — producer, junior, HQ US; US: Met coal mines in West Virginia and Virginia; Brook Mine rare earths, Wyoming
- Ucore Rare Metals (UCU.V) — developer, junior, HQ CA; US: Louisiana Strategic Metals Complex, Alexandria (rare-earth separation, under development)
- Idaho Strategic Resources (IDR) — producer, junior, HQ US; US: Golden Chest gold mine and Lemhi Pass rare-earth claims, Idaho
- American Rare Earths (ARRNF) — developer, junior, HQ AU; US: Halleck Creek rare-earth project, Wyoming (exploration)

## Sources
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- Silverado Policy Accelerator — Rare Earth Trade Report (Sep 2026): https://silverado.org/publications/rare-earth-trade-report/
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Neodymium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/neodymium. Research and education only; not investment advice.

---

# Samarium (Sm)

> Forms samarium-cobalt magnets that keep their strength at high temperatures — vital for defense systems.

Source page: https://critical-minerals.si/minerals/samarium · JSON: https://critical-minerals.si/data/minerals/samarium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. Among the seven heavy rare earths China placed under export controls in April 2025; China still supplies most separated output.
- Supply risk index: 78/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 8 of 10 government critical-mineral lists
- AI relevance: 1/3 (Servers & hardware). High-temperature SmCo magnets in specialized motors and sensors.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore (oxide equivalent, all elements)): China 69%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Separation (Separated oxide of this element): not tracked yet. The IEA publishes separation shares only for magnet rare earths (China 85% in 2025).
- Metal / material (Metal, phosphor, catalyst or alloy): not tracked yet
- End product (Catalysts, phosphors, lasers, alloys, medical uses): not tracked yet

Most concentrated step: Mining (China 69%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- MP Materials (MP) — producer, mid-tier, HQ US; US: Mountain Pass rare-earth mine (CA) and Independence magnet plant (TX)

## Sources
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- Silverado Policy Accelerator — Rare Earth Trade Report (Sep 2026): https://silverado.org/publications/rare-earth-trade-report/
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Samarium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/samarium. Research and education only; not investment advice.

---

# Europium (Eu)

> A phosphor element that produced red light in screens and still secures euro banknotes.

Source page: https://critical-minerals.si/minerals/europium · JSON: https://critical-minerals.si/data/minerals/europium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Mined alongside other rare earths; China dominates separation (≈85% of refining in 2025).
- Supply risk index: 69/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 8 of 10 government critical-mineral lists
- AI relevance: 0/3 (). Minimal — phosphors and lighting.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore (oxide equivalent, all elements)): China 69%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Separation (Separated oxide of this element): not tracked yet. The IEA publishes separation shares only for magnet rare earths (China 85% in 2025).
- Metal / material (Metal, phosphor, catalyst or alloy): not tracked yet
- End product (Catalysts, phosphors, lasers, alloys, medical uses): not tracked yet

Most concentrated step: Mining (China 69%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): group
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- None tracked yet

## Sources
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Europium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/europium. Research and education only; not investment advice.

---

# Gadolinium (Gd)

> Used in MRI contrast agents, nuclear control and magnet alloys.

Source page: https://critical-minerals.si/minerals/gadolinium · JSON: https://critical-minerals.si/data/minerals/gadolinium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. Among the seven heavy rare earths China placed under export controls in April 2025; China still supplies most separated output.
- Supply risk index: 78/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 8 of 10 government critical-mineral lists
- AI relevance: 1/3 (Servers & hardware). Additive in magnets and in some memory and sensor research.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore (oxide equivalent, all elements)): China 69%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Separation (Separated oxide of this element): not tracked yet. The IEA publishes separation shares only for magnet rare earths (China 85% in 2025).
- Metal / material (Metal, phosphor, catalyst or alloy): not tracked yet
- End product (Catalysts, phosphors, lasers, alloys, medical uses): not tracked yet

Most concentrated step: Mining (China 69%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- None tracked yet

## Sources
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- Silverado Policy Accelerator — Rare Earth Trade Report (Sep 2026): https://silverado.org/publications/rare-earth-trade-report/
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Gadolinium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/gadolinium. Research and education only; not investment advice.

---

# Terbium (Tb)

> A heavy rare earth that lets NdFeB magnets resist demagnetization at high heat.

Source page: https://critical-minerals.si/minerals/terbium · JSON: https://critical-minerals.si/data/minerals/terbium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. Among the seven heavy rare earths China placed under export controls in April 2025; China still supplies most separated output.
- Supply risk index: 78/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 10 of 10 government critical-mineral lists
- AI relevance: 2/3 (Cooling & thermal, Optical networking). Terbium-doped magnets in high-temperature motors (fans, pumps) and in magneto-optical devices.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore and concentrate): China ~60%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 182. IEA figure for magnet rare earths. For all rare earths, USGS puts China at 69% of 2025 mining, the US at 13% and Australia at 7%.
- Separation (Separated rare earth oxides): China 85%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 182. Down from 90% in 2024 as new US projects and Malaysian output added supply. The IEA's dedicated rare earths report gives 91% for 2024.
- Metal and alloy (Rare earth metals and NdFeB alloy): not tracked yet. Not reported separately. The IEA counts only about 18 kt of planned metal, alloy and magnet capacity outside China by 2035 (rare earth content).
- Magnets (Sintered NdFeB permanent magnets): China 94%, 2024 — IEA, Rare Earth Elements report: executive summary (CC BY 4.0). China's share was around 50% in 2005.

Processing gap: +34 percentage points (China 60% at mining → 94% at magnets). This is separate from the supply risk index.
Most concentrated step: Magnets (China 94%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): strategic
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- Lynas Rare Earths (LYC.AX) — producer, mid-tier, HQ AU; US: Planned rare-earth processing plant in Seadrift, Texas
- Energy Fuels (UUUU) — producer, mid-tier, HQ US; US: White Mesa Mill, Utah (uranium and rare-earth separation) and US uranium mines
- China Rare Earth Resources & Technology (000831.SZ) — producer, mid-tier, HQ CN
- Ucore Rare Metals (UCU.V) — developer, junior, HQ CA; US: Louisiana Strategic Metals Complex, Alexandria (rare-earth separation, under development)
- American Rare Earths (ARRNF) — developer, junior, HQ AU; US: Halleck Creek rare-earth project, Wyoming (exploration)

## Sources
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- Silverado Policy Accelerator — Rare Earth Trade Report (Sep 2026): https://silverado.org/publications/rare-earth-trade-report/
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Terbium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/terbium. Research and education only; not investment advice.

---

# Dysprosium (Dy)

> The other heat-resistance additive for NdFeB magnets — among the most supply-constrained rare earths.

Source page: https://critical-minerals.si/minerals/dysprosium · JSON: https://critical-minerals.si/data/minerals/dysprosium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. Among the seven heavy rare earths China placed under export controls in April 2025; China still supplies most separated output.
- Supply risk index: 78/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 10 of 10 government critical-mineral lists
- AI relevance: 2/3 (Servers & hardware, Cooling & thermal). Dysprosium keeps magnets in drives, fans and motors stable at operating temperatures; USGS lists data storage devices as a primary use.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore and concentrate): China ~60%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 182. IEA figure for magnet rare earths. For all rare earths, USGS puts China at 69% of 2025 mining, the US at 13% and Australia at 7%.
- Separation (Separated rare earth oxides): China 85%, 2025 — IEA, Global Critical Minerals Outlook 2026 (CC BY 4.0), p. 182. Down from 90% in 2024 as new US projects and Malaysian output added supply. The IEA's dedicated rare earths report gives 91% for 2024.
- Metal and alloy (Rare earth metals and NdFeB alloy): not tracked yet. Not reported separately. The IEA counts only about 18 kt of planned metal, alloy and magnet capacity outside China by 2035 (rare earth content).
- Magnets (Sintered NdFeB permanent magnets): China 94%, 2024 — IEA, Rare Earth Elements report: executive summary (CC BY 4.0). China's share was around 50% in 2005.

Processing gap: +34 percentage points (China 60% at mining → 94% at magnets). This is separate from the supply risk index.
Most concentrated step: Magnets (China 94%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- United States (DOE) — Critical Materials List — critical materials for energy (2023): critical
- European Union — Critical & Strategic Raw Materials (2024): strategic
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- South Korea — 33 Critical Minerals / 10 Strategic Critical Minerals (2023): strategic
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- Lynas Rare Earths (LYC.AX) — producer, mid-tier, HQ AU; US: Planned rare-earth processing plant in Seadrift, Texas
- Energy Fuels (UUUU) — producer, mid-tier, HQ US; US: White Mesa Mill, Utah (uranium and rare-earth separation) and US uranium mines
- China Rare Earth Resources & Technology (000831.SZ) — producer, mid-tier, HQ CN
- Ramaco Resources (METC) — producer, junior, HQ US; US: Met coal mines in West Virginia and Virginia; Brook Mine rare earths, Wyoming
- Ucore Rare Metals (UCU.V) — developer, junior, HQ CA; US: Louisiana Strategic Metals Complex, Alexandria (rare-earth separation, under development)
- American Rare Earths (ARRNF) — developer, junior, HQ AU; US: Halleck Creek rare-earth project, Wyoming (exploration)

## Sources
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- Silverado Policy Accelerator — Rare Earth Trade Report (Sep 2026): https://silverado.org/publications/rare-earth-trade-report/
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Dysprosium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/dysprosium. Research and education only; not investment advice.

---

# Holmium (Ho)

> Has the highest magnetic strength of any element; used in lasers and magnet pole pieces.

Source page: https://critical-minerals.si/minerals/holmium · JSON: https://critical-minerals.si/data/minerals/holmium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Mined alongside other rare earths; China dominates separation (≈85% of refining in 2025).
- Supply risk index: 69/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 8 of 10 government critical-mineral lists
- AI relevance: 0/3 (). Minimal — specialty lasers.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore (oxide equivalent, all elements)): China 69%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Separation (Separated oxide of this element): not tracked yet. The IEA publishes separation shares only for magnet rare earths (China 85% in 2025).
- Metal / material (Metal, phosphor, catalyst or alloy): not tracked yet
- End product (Catalysts, phosphors, lasers, alloys, medical uses): not tracked yet

Most concentrated step: Mining (China 69%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): group
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- None tracked yet

## Sources
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Holmium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/holmium. Research and education only; not investment advice.

---

# Erbium (Er)

> The amplifier of the internet: erbium-doped fiber amplifiers boost light signals across long-haul optical networks.

Source page: https://critical-minerals.si/minerals/erbium · JSON: https://critical-minerals.si/data/minerals/erbium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Mined alongside other rare earths; China dominates separation (≈85% of refining in 2025).
- Supply risk index: 69/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 8 of 10 government critical-mineral lists
- AI relevance: 3/3 (Optical networking). Erbium-doped fiber amplifiers (EDFAs) carry data-center interconnect and long-haul traffic between AI campuses.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore (oxide equivalent, all elements)): China 69%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Separation (Separated oxide of this element): not tracked yet. The IEA publishes separation shares only for magnet rare earths (China 85% in 2025).
- Metal / material (Metal, phosphor, catalyst or alloy): not tracked yet
- End product (Catalysts, phosphors, lasers, alloys, medical uses): not tracked yet

Most concentrated step: Mining (China 69%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): group
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- None tracked yet

## Sources
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Erbium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/erbium. Research and education only; not investment advice.

---

# Thulium (Tm)

> One of the rarest rare earths; used in medical lasers and portable X-ray devices.

Source page: https://critical-minerals.si/minerals/thulium · JSON: https://critical-minerals.si/data/minerals/thulium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Mined alongside other rare earths; China dominates separation (≈85% of refining in 2025).
- Supply risk index: 69/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 8 of 10 government critical-mineral lists
- AI relevance: 1/3 (Optical networking). Thulium-doped fiber amplifiers extend optical bandwidth in some networks.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore (oxide equivalent, all elements)): China 69%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Separation (Separated oxide of this element): not tracked yet. The IEA publishes separation shares only for magnet rare earths (China 85% in 2025).
- Metal / material (Metal, phosphor, catalyst or alloy): not tracked yet
- End product (Catalysts, phosphors, lasers, alloys, medical uses): not tracked yet

Most concentrated step: Mining (China 69%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): group
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- None tracked yet

## Sources
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Thulium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/thulium. Research and education only; not investment advice.

---

# Ytterbium (Yb)

> Used in fiber lasers, atomic clocks and stress gauges.

Source page: https://critical-minerals.si/minerals/ytterbium · JSON: https://critical-minerals.si/data/minerals/ytterbium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Watch. Mined alongside other rare earths; China dominates separation (≈85% of refining in 2025).
- Supply risk index: 69/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 8 of 10 government critical-mineral lists
- AI relevance: 1/3 (Chips & fabs). Ytterbium fiber lasers used in precision manufacturing, including electronics.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore (oxide equivalent, all elements)): China 69%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Separation (Separated oxide of this element): not tracked yet. The IEA publishes separation shares only for magnet rare earths (China 85% in 2025).
- Metal / material (Metal, phosphor, catalyst or alloy): not tracked yet
- End product (Catalysts, phosphors, lasers, alloys, medical uses): not tracked yet

Most concentrated step: Mining (China 69%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): group
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- None tracked yet

## Sources
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Ytterbium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/ytterbium. Research and education only; not investment advice.

---

# Lutetium (Lu)

> The heaviest rare earth; used in PET-scan detectors and cancer radiotherapy.

Source page: https://critical-minerals.si/minerals/lutetium · JSON: https://critical-minerals.si/data/minerals/lutetium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. Among the seven heavy rare earths China placed under export controls in April 2025; China still supplies most separated output.
- Supply risk index: 78/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 67%; main import sources: China, Malaysia, Estonia, Japan
- On 8 of 10 government critical-mineral lists
- AI relevance: 0/3 (). Minimal — medical imaging and catalysts.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore (oxide equivalent, all elements)): China 69%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Separation (Separated oxide of this element): not tracked yet. The IEA publishes separation shares only for magnet rare earths (China 85% in 2025).
- Metal / material (Metal, phosphor, catalyst or alloy): not tracked yet
- End product (Catalysts, phosphors, lasers, alloys, medical uses): not tracked yet

Most concentrated step: Mining (China 69%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): group
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- None tracked yet

## Sources
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- Silverado Policy Accelerator — Rare Earth Trade Report (Sep 2026): https://silverado.org/publications/rare-earth-trade-report/
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Lutetium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/lutetium. Research and education only; not investment advice.

---

# Yttrium (Y)

> Used in YAG lasers, phosphors, thermal-barrier coatings and yttria-stabilized zirconia.

Source page: https://critical-minerals.si/minerals/yttrium · JSON: https://critical-minerals.si/data/minerals/yttrium.json · Terms: https://critical-minerals.si/data#terms

## Key facts
- Supply status: Tight / restricted. Among the seven heavy rare earths China placed under export controls in April 2025; China still supplies most separated output.
- Supply risk index: 83/100
- Top producer (2025): China (69%); China's share: 69%
- US net import reliance: 100%; main import sources: China, Germany, Austria
- On 8 of 10 government critical-mineral lists
- AI relevance: 2/3 (Chips & fabs, Power generation). Yttria coatings protect plasma-etch chambers in chip fabs; yttrium-stabilized zirconia in solid-oxide fuel cells.
- Export controls: China — Export licensing (2025); Malaysia — Raw rare earth export ban (2024); Namibia — Ore & concentrate export ban (2023); Vietnam — Raw rare earth export ban

## Supply chain by step
- Mining (Rare earth ore (oxide equivalent, all elements)): China 69%, 2025 — USGS Mineral Commodity Summaries 2026 data release (CC0)
- Separation (Separated oxide of this element): not tracked yet. The IEA publishes separation shares only for magnet rare earths (China 85% in 2025).
- Metal / material (Metal, phosphor, catalyst or alloy): not tracked yet
- End product (Catalysts, phosphors, lasers, alloys, medical uses): not tracked yet

Most concentrated step: Mining (China 69%).

## Production by country (mine production (rare-earth oxide equivalent), metric tons)
| Country | 2024 | 2025 | Share 2025 | Reserves |
|---|---|---|---|---|
| China | 270000 | 270000 | 69% | 44000000 |
| United States | 45500 | 51000 | 13% | 1900000 |
| Australia | 29000 | 29000 | 7% | 6300000 |
| Myanmar | 27000 | 22000 | 6% |  |
| Thailand | 2100 | 4800 | 1% |  |
| India | 2900 | 2900 | 1% |  |
| Madagascar | 1400 | 2700 | 1% |  |
| Russia | 2600 | 2600 | 1% | 3800000 |

## Government lists
- United States — Final 2025 List of Critical Minerals (2025): critical
- European Union — Critical & Strategic Raw Materials (2024): group
- United Kingdom — 2024 Criticality Assessment (2024): group
- China — National Mineral Resources Plan (2016–2020) — 24 strategic minerals (2016): group
- Japan — Critical Minerals (35 mineral species) (2023): group
- India — 30 Critical Minerals for India (2023): group
- Australia — Critical Minerals List & Strategic Materials List (2024): group
- Canada — Canada's Critical Minerals List (2024): group

## Listed companies with exposure
- None tracked yet

## Sources
- IEA Global Critical Minerals Outlook 2026 — Executive summary: https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
- Silverado Policy Accelerator — Rare Earth Trade Report (Sep 2026): https://silverado.org/publications/rare-earth-trade-report/
- Reuters — US invests in critical minerals but China maintains grip (Sep 2026): https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
- USGS Mineral Commodity Summaries 2026: https://www.usgs.gov/data/mineral-commodity-summaries-2026-data-release

Cite as: Yttrium — Critical-Minerals.si (https://critical-minerals.si), https://critical-minerals.si/minerals/yttrium. Research and education only; not investment advice.

---

# Investment buckets (scarcity scores)
- Grid & power metals (https://critical-minerals.si/invest/grid): scarcity 64/100; minerals copper, aluminum, electrical_steel; tickers FCX, SCCO, TECK, IVN.TO, FQVLF, ANTO.L, HBM, 601899.SS, 600362.SS, CLF, AA, CENX, COPX, COPP, CPER, 603993.SS, GLEN.L, BHP, RIO, AAL.L, IE
- Chip & optics minerals (https://critical-minerals.si/invest/chips): scarcity 73/100; minerals gallium, germanium, indium, silicon, silicon_carbide; tickers TECK, AA, 010130.KS, UMI.BR, VNP.TO, AXTI, GSM, WCH.DE, COHR
- Rare earths & magnets (https://critical-minerals.si/invest/magnets): scarcity 76/100; minerals neodymium, praseodymium, dysprosium, terbium; tickers MP, LYC.AX, USAR, UUUU, ILU.AX, NEO.TO, ARU.AX, 600111.SS, 000831.SZ, REMX, METC, UCU.V, IDR, ARRNF
- Battery & backup storage (https://critical-minerals.si/invest/storage): scarcity 63/100; minerals lithium, graphite, cobalt, nickel, manganese; tickers UMI.BR, ALB, SQM, PLS.AX, LAC, 002460.SZ, 002466.SZ, SYR.AX, WWR, 603993.SS, GLEN.L, VALE, LIT, LITP, RIO, IONR, SLI, ABAT, GPHOF, TLOFF
- Nuclear fuel for AI power (https://critical-minerals.si/invest/nuclear): scarcity 49/100; minerals uranium; tickers UUUU, CCJ, KAP.L, NXE, UEC, DNN, SRUUF, URA, URNM, URNJ, URG, EU, LEU
- Strategic & defense metals (https://critical-minerals.si/invest/strategic): scarcity 70/100; minerals tungsten, antimony, tin; tickers USAR, REMX, ALM, PPTA, UAMY, AFM.V, SETM, IONR, NB, FEAM
- Diversified majors & broad baskets (https://critical-minerals.si/invest/diversified): scarcity 46/100; minerals copper, iron, aluminum, nickel, platinum; tickers REMX, GLEN.L, VALE, BHP, RIO, AAL.L, PICK, SETM, SBSW

# Signals
# USGS maps 1,271 US critical-mineral deposits

2026-09-29 · Supply · Minerals: copper, silver, uranium, boron

> The US has more of the minerals it worries about than its import numbers suggest. The hard part is turning deposits into mines.

## What happened

USGS released a refreshed national database of known critical-mineral deposits — 1,271 of them, spanning 59 minerals in 41 states plus Puerto Rico. Roughly a third (412) have documented resources but have never been mined.

The update also folds in the nine minerals added to the federal list in 2025, including copper, silver, silicon and uranium. Metallurgical coal was left out because it is already well catalogued.

## Our take

This is a map of potential, not a supply forecast. A documented resource is the start of a decade-long process of permitting, financing, building and — the bottleneck almost everyone underestimates — processing the ore into something a factory can use.

Still, the headline matters: the agency says nine of the ten minerals at highest risk of disruption occur on US soil. That reframes the American problem from "we don't have it" to "we haven't built the chain to use it," which is a policy and capital problem rather than a geological one.

## Why it matters for AI infrastructure

Copper and silicon are two of the most important inputs to data centers and the grid that feeds them. Having them mapped domestically gives developers, utilities and investors a clearer starting point when they think about local sourcing.

## What to watch
- Which of the 412 undeveloped deposits attract permitting under fast-track programs
- Whether the mapping work translates into new processing capacity, not just new mines
- Follow-on Earth MRI survey releases for rare earths and battery metals

Source: USGS https://www.usgs.gov/news/national-news-release/usgs-updates-us-critical-mineral-deposits
Page: https://critical-minerals.si/signals/usgs-maps-us-critical-mineral-deposits · Cite as Critical-Minerals.si (https://critical-minerals.si)

---

# Glencore gets $500M EXIM backing for a US minerals reserve

2026-09-23 · Policy · Minerals: 

> A global trader-miner becomes a supplier to a US government-backed reserve. Expect more public-private stockpiling deals like this.

## What happened

Glencore said the Export-Import Bank of the United States committed $500 million to help set up a strategic critical-minerals reserve in the US. The vehicle, called VaultCo, is structured as a public-private partnership in which Glencore sources, buys and delivers material into the reserve.

The announcement did not spell out which minerals will be held, how much, or on what timeline.

## Our take

Washington is increasingly outsourcing the mechanics of stockpiling to commercial players who already know how to find, finance and ship metal. That is faster than building a government buying desk from scratch, and it keeps inventory risk partly off the public balance sheet.

The open questions are governance and pricing: who decides when material is released, and at what price? A reserve that buys at the top of a spike and sells into a crash would do more harm than good. The details here are still thin.

## Why it matters for AI infrastructure

Reserves are an insurance policy against the kind of sudden export cut that has hit gallium, germanium and rare earths. For chipmakers and grid builders, a credible domestic buffer lowers the odds of a production stoppage.

## What to watch
- Which minerals VaultCo prioritizes first
- Whether other traders sign similar EXIM-backed agreements
- Rules for releasing inventory during a disruption

Source: Reuters https://www.reuters.com/legal/transactional/glencore-create-us-strategic-critical-minerals-reserve-with-exim-bank-2026-09-23/
Page: https://critical-minerals.si/signals/glencore-exim-us-strategic-minerals-reserve · Cite as Critical-Minerals.si (https://critical-minerals.si)

---

# China's rare-earth exports to Japan stay at zero

2026-09-22 · Export controls · Minerals: neodymium, dysprosium, terbium

> Beijing's rare-earth curbs are selective. Japan is getting nothing, South Korea is getting more than ever, and the US is somewhere in between.

## What happened

Silverado Policy Accelerator's monthly review of Chinese trade data found that August 2026 exports of export-controlled rare-earth compounds and metals stayed far below historical levels. Shipments to Japan were zero for the third month running, continuing the squeeze that began when China added Japan-specific restrictions in January.

In contrast, exports to South Korea ran above pre-control levels, making Korea China's biggest customer for these materials. Magnet exports overall have largely recovered — except to the US, the only major destination receiving fewer magnets this year than in 2024.

## Our take

This is export control as foreign policy, applied country by country. China is rewarding and punishing specific trade partners rather than shutting the tap for everyone, which makes the supply picture very different depending on where your factory sits.

The US data has a subtle wrinkle: the number of magnets imported is rising even as total weight falls, suggesting buyers are shifting toward smaller magnets — possibly finished components rather than bulk material.

## Why it matters for AI infrastructure

Neodymium-iron-boron magnets sit inside hard drives, cooling fans and the motors and generators of the power system. Japanese electronics and component makers are on the front line of this disruption.

## What to watch
- Whether Japan's exports stay at zero into Q4
- Korea's role as a possible re-export route
- US magnet import volumes as new domestic magnet plants come online

Source: Silverado Policy Accelerator https://silverado.org/publications/rare-earth-trade-report/
Page: https://critical-minerals.si/signals/china-rare-earth-exports-japan-zero · Cite as Critical-Minerals.si (https://critical-minerals.si)

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# Gallium and germanium hit record prices outside China

2026-09-18 · Prices · Minerals: gallium, germanium

> Three years into China's controls, the West still can't replace Chinese gallium and germanium — and buyers are paying close to ten times more for it.

## What happened

Reuters reported that prices for gallium and germanium outside China are now roughly nine to ten times their 2023 levels. Industry estimates put China's 2025 share of primary gallium at nearly 99% and germanium at close to 70%.

S&P Global's preliminary figures show ex-China gallium capacity reaching only about 20 tonnes by the end of 2026 against a supply gap of nearly 680 tonnes. Even if every announced project is built by 2030, a large share of non-Chinese demand would still depend on China.

## Our take

These are tiny markets by volume — around 1,000 tonnes of gallium a year — which is exactly why they are so easy to weaponize and so hard to rebuild. The metals are by-products of aluminum and zinc refining, so new supply depends on retrofitting refineries rather than opening a new mine.

The industry's response is the usual playbook: stockpiling, recycling, redesigning products and paying up. None of it works quickly. A realistic goal over five years is less dependence, not independence.

## Why it matters for AI infrastructure

Gallium nitride is increasingly used in efficient server power supplies, and gallium arsenide and related compounds power the lasers in optical links between GPUs. Germanium goes into fiber-optic cable and high-speed chips. Rapid growth in AI networking is adding demand just as supply is tightest.

## What to watch
- New ex-China capacity from projects in Greece, Australia, Canada, India, Korea and the US
- The November 2026 expiry of China's US export-ban suspension
- Whether governments introduce price floors to anchor Western supply

Source: Reuters https://www.reuters.com/world/china/niche-metals-test-wests-resilience-chinese-export-curbs-2026-09-18/
Page: https://critical-minerals.si/signals/gallium-germanium-record-prices-outside-china · Cite as Critical-Minerals.si (https://critical-minerals.si)

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# China's grip on refining tightens outside rare earths

2026-09-14 · Supply · Minerals: neodymium, praseodymium

> The West is making headway on rare-earth refining. Across most other critical minerals, China's share is still climbing.

## What happened

A Reuters Events analysis noted that US and Malaysian investment helped lower China's share of rare-earth refining from above 90% in 2023 to about 85% in 2025. But across other critical minerals, China's average refining share edged up from 70% to 72% over the same period.

The IEA expects China to still hold around 70–73% of rare-earth refining in 2035 even if every planned project elsewhere goes ahead, and singles out graphite, magnet rare earths, yttrium and cobalt as especially exposed.

## Our take

Rare earths get the headlines, so that is where the money has gone. Meanwhile, the quieter refining markets — battery materials, graphite, many minor metals — have consolidated further in China. Diversifying one link doesn't diversify the chain.

The US strategy has shifted toward equity stakes, stockpiles and price floors rather than broad clean-energy subsidies. Whether that sticks will depend on policy staying consistent long enough for projects that take five to ten years to finish.

## Why it matters for AI infrastructure

Data centers increasingly pair with battery storage, and battery chemistry runs through Chinese-dominated refining for graphite, lithium and cathode materials. The power side of AI is as exposed as the chip side.

## What to watch
- China's suspended export controls on graphite and battery materials, due to resume in November 2026
- New US graphite and lithium processing plants reaching production
- Battery makers' compliance with foreign-entity sourcing rules

Source: Reuters https://www.reuters.com/business/energy/us-invests-critical-minerals-china-maintains-grip--reeii-2026-09-14/
Page: https://critical-minerals.si/signals/china-refining-grip-tightens-outside-rare-earths · Cite as Critical-Minerals.si (https://critical-minerals.si)

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# AI demand and tariffs send copper to a record

2026-09-10 · Prices · Minerals: copper

> Copper is having its moment: shrinking mine output, AI and grid demand, and tariff panic all pointing the same way.

## What happened

US copper futures settled at a record of about $6.89 per pound in early September before pulling back. Copper was up more than 15% in 2026 and around 40% over twelve months, outperforming gold, bitcoin and the S&P 500.

Global mine output fell about 1% in the first half of 2026 by industry estimates, with Chile — the largest producer — down more than 6%. Uncertainty over a possible US tariff on refined copper sent buyers rushing to ship metal into the country ahead of any duty.

## Our take

Two things are true at once. Short-term, a lot of the spike is positioning — stockpiling ahead of tariffs plus speculative money chasing momentum — which can reverse quickly. Long-term, the fundamentals are genuinely tight: ore grades are falling, new mines are slow to build, and electrification demand keeps compounding.

Refined copper is technically still in surplus today. The worry is the pipeline: if mines keep underperforming while demand climbs, the surplus disappears fast.

## Why it matters for AI infrastructure

Copper is the single largest mineral input to an AI data center by weight, and most of it goes into the grid connection rather than the building itself. Wire and cable costs were already up sharply year over year, which flows straight into data-center construction budgets.

## What to watch
- A decision on US tariffs for refined copper
- Chilean and Peruvian output in the second half
- Utility capex plans that lock in multi-year copper demand

Source: CNN Business https://www.cnn.com/2026/09/10/investing/copper-price-record-high
Page: https://critical-minerals.si/signals/copper-record-ai-demand-tariffs · Cite as Critical-Minerals.si (https://critical-minerals.si)

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# Study: copper is ~83% of AI data-center mineral demand

2026-09-04 · AI demand · Minerals: copper, electrical_steel, gallium, germanium

> A new demand model confirms what grid engineers already suspected: AI's mineral footprint is mostly copper, and mostly outside the server hall.

## What happened

Researchers published a bottom-up model of the minerals needed to build AI data centers from 2025 to 2035, covering 20 materials across computing, cooling and power systems. Copper makes up roughly 82–83% of the modeled mineral mass, and nearly two-thirds of that copper is tied to grid transmission.

The study also flags grain-oriented electrical steel for transformers as a potential constraint, and finds that for gallium, germanium, graphite and rare earths the risk lies in processing concentration rather than geology.

## Our take

This is a useful corrective to the chip-centric way AI supply chains are usually discussed. The GPUs get the attention, but the tonnage — and a lot of the scheduling risk — sits in substations, transformers and transmission lines.

It also separates two kinds of risk that often get blurred together. Copper and transformer steel are volume problems: there may simply not be enough capacity. Gallium and germanium are concentration problems: there's enough in the ground, but one country controls the processing.

## Why it matters for AI infrastructure

Transformer lead times already stretch for years in many markets. If electrical steel becomes the bottleneck, it could delay data-center energization regardless of how many chips are available.

## What to watch
- Transformer and electrical-steel capacity announcements
- Utility interconnection queues for large AI campuses
- Follow-up studies on optical-network mineral demand

Source: Rare Earth Exchanges https://rareearthexchanges.com/news/ai-data-centers-critical-mineral-demand/
Page: https://critical-minerals.si/signals/ai-data-centers-copper-mineral-demand-study · Cite as Critical-Minerals.si (https://critical-minerals.si)

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# Pentagon backs Alcoa gallium plant in Australia

2026-08-31 · Policy · Minerals: gallium

> The US is now buying equity in foreign mineral projects. A gallium plant in Western Australia is the latest example.

## What happened

The US Department of Defense announced a $174 million equity investment to help build a gallium recovery facility at Alcoa's Wagerup alumina refinery in Australia, alongside Japan's Sojitz and Export Finance Australia. The target is about 100 tonnes of gallium a year, aimed largely at radar and missile-defense uses.

Weeks earlier, the Department of Energy also announced $500 million for seven projects covering mineral processing, battery manufacturing and recycling.

## Our take

Gallium comes out of alumina refining, so building supply means bolting recovery units onto existing refineries — which is exactly what this does. It's a smart, relatively fast path compared with greenfield mining.

The three-country financing structure is the template to watch: the US brings capital and a buyer, Japan brings a trading house and offtake, Australia brings the resource and export finance. Expect more of these allied deals.

## Why it matters for AI infrastructure

Defense will take priority, but 100 tonnes is a meaningful share of what's needed outside China. Any spare capacity helps the gallium nitride power electronics and optical components used in AI data centers.

## What to watch
- Construction milestones and first production at Wagerup
- Similar equity deals for germanium and indium
- Japan's push to give its state minerals agency independent investment powers

Source: Asia Times https://asiatimes.com/2026/09/us-japan-race-to-secure-chip-grade-minerals-as-china-curbs-exports/
Page: https://critical-minerals.si/signals/pentagon-backs-alcoa-gallium-plant-australia · Cite as Critical-Minerals.si (https://critical-minerals.si)

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# DR Congo bans copper and cobalt concentrate exports

2026-08-06 · Export controls · Minerals: cobalt, copper

> The world's dominant cobalt producer is tightening control again — this time pushing more processing onshore.

## What happened

DR Congo issued an order banning exports of copper and cobalt concentrates, with limited one-year exemptions possible for strategic cases. It followed a June move by the country's mineral-markets regulator to claw back unused first-half cobalt export quotas into a state-controlled strategic pool.

Since the start of 2026, Congo has capped cobalt exports at about 96,600 tonnes a year — less than half its 2024 output. Copper prices in London rose as much as 1.8% on the news.

## Our take

This is resource nationalism with a clear goal: capture more of the value chain at home. Congo has tried concentrate bans before and granted waivers when local smelters couldn't keep up, so enforcement is the real question.

For cobalt, though, the quota system is already reshaping the market. With Congo producing roughly three-quarters of global supply and Chinese companies owning most of its mines, buyers have few alternatives in the short run.

## Why it matters for AI infrastructure

Cobalt shows up in some battery chemistries used for backup power and in superalloys for gas turbines that generate on-site power. Congo also supplies a meaningful share of the world's copper.

## What to watch
- Second-half cobalt quota allocations and any further forfeitures
- Whether major mines receive exemptions
- Progress on the US-backed Lobito rail corridor to Atlantic ports

Source: Rio Times https://www.riotimesonline.com/dr-congo-cobalt-export-quotas-2026/
Page: https://critical-minerals.si/signals/dr-congo-bans-copper-cobalt-concentrate-exports · Cite as Critical-Minerals.si (https://critical-minerals.si)

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# IEA Global Critical Minerals Outlook 2026

2026-07-16 · Outlook · Minerals: copper, lithium, cobalt, graphite, nickel

> The IEA's annual check-up: higher prices, tighter controls, falling investment — and a lot of exposure concentrated in very few hands.

## What happened

The IEA's 2026 Outlook found that copper, aluminum and tin prices rose about a third between January 2025 and April 2026, lithium more than doubled, cobalt jumped roughly 130% after DR Congo's export restrictions, and tungsten rose about sixfold.

It still projects deficits for copper and lithium through 2035 — the copper gap is now about 25%, down from about 30% in the previous edition — and says a cobalt gap has emerged. China's average share of refining for key minerals (excluding rare earths) reached 72% in 2025.

## Our take

The most striking number may be on investment: critical-mineral spending fell about 9% in 2025, with lithium investment down around 40%, even as prices and security concerns rose. Markets are sending mixed signals, and capital is waiting for clearer price floors and policy.

The IEA also puts a price on the risk: full implementation of China's suspended rare-earth controls could put trillions of dollars a year of downstream production outside China in jeopardy. Meanwhile, it estimates that stockpiling 11 high-risk materials would cost less than $1 billion a year — cheap insurance by comparison.

## Why it matters for AI infrastructure

Copper and lithium both feed the data-center power stack — grid connection and backup storage. Structural deficits in both suggest rising costs for anyone building large power-hungry campuses.

## What to watch
- China's suspended controls, set to lapse in November 2026
- Whether investment rebounds in 2026 data
- Progress on coordinated stockpiles among IEA members

Source: IEA https://www.iea.org/reports/global-critical-minerals-outlook-2026/executive-summary
Page: https://critical-minerals.si/signals/iea-global-critical-minerals-outlook-2026 · Cite as Critical-Minerals.si (https://critical-minerals.si)

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# China blacklists MP Materials and USA Rare Earth

2026-06-22 · Export controls · Minerals: neodymium, praseodymium

> Beijing put America's rare-earth champions on its export blacklist. The practical impact is small; the signal is not.

## What happened

China added MP Materials, USA Rare Earth and eight other US entities it describes as linked to the military to its export-control list, which bars anyone from supplying them with Chinese-origin dual-use items. Separately, China's finance ministry announced procurement restrictions on 46 US companies.

The move was widely read as retaliation for the Pentagon's updated list of Chinese companies it says support China's military.

## Our take

Most of the listed firms weren't buying much from China anyway, so analysts see this as largely symbolic. But it does confirm that the US mine-to-magnet buildout will have to be fully independent of Chinese inputs — equipment, reagents, know-how and all.

It also illustrates how quickly critical minerals have become a tit-for-tat tool. Each new US measure now invites a mirrored Chinese one.

## Why it matters for AI infrastructure

Domestic magnet production is the main hedge against Chinese control of the rare-earth magnets used in drives, fans, motors and generators. Anything that slows those projects raises long-term exposure.

## What to watch
- Whether China broadens the list to include US magnet customers
- US equipment and reagent sourcing for new rare-earth plants
- Next steps in the US-China trade truce talks

Source: Reuters https://www.reuters.com/world/asia-pacific/china-targets-us-rare-earth-other-firms-with-export-controls-2026-06-22/
Page: https://critical-minerals.si/signals/china-blacklists-mp-materials-usa-rare-earth · Cite as Critical-Minerals.si (https://critical-minerals.si)

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# Qatar outage sends helium prices soaring

2026-03-12 · Supply · Minerals: helium

> Helium is hard to replace in chipmaking and its supply chain is fragile. One gas plant going offline was enough to send prices sharply higher.

## What happened

Disruption to Qatar's natural-gas processing during the regional conflict halted liquefied natural gas output and with it a large share of the world's helium, which is recovered as a by-product of gas processing. Qatar produced close to a third of global helium in 2025, according to USGS figures.

Industry consultants reported spot prices rising by anywhere from about 50% to double, and warned that a long outage could push them higher still.

## Our take

Helium is a textbook example of a hidden chokepoint: tiny market, no stockpiles to speak of, and liquid helium that boils off within weeks in transit. When supply goes, there's very little cushion.

In a shortage, distributors ration. Medical imaging and space launches get first call, semiconductor fabs close behind, and industrial users like welding take the deepest cuts. The chip industry is protected, but not immune.

## Why it matters for AI infrastructure

Helium is used in semiconductor fabrication for cooling and inert atmospheres, and in fiber-optic manufacturing. A prolonged helium shortage is a quiet risk to chip output and therefore to AI hardware supply.

## What to watch
- Restart timing for Qatar's gas processing
- US and other non-Qatari helium projects coming online
- Chipmakers' long-term helium contracts and recycling

Source: Reuters https://www.reuters.com/business/energy/helium-prices-soar-qatar-lng-halt-exposes-fragile-supply-chain-2026-03-12/
Page: https://critical-minerals.si/signals/qatar-outage-helium-prices-soar · Cite as Critical-Minerals.si (https://critical-minerals.si)

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# US launches $12B Project Vault minerals stockpile

2026-02-02 · Policy · Minerals: lithium, nickel, neodymium

> The US is building a $12 billion commercial stockpile to blunt China's leverage over mineral prices.

## What happened

The White House launched Project Vault, a critical-minerals stockpile funded by a $10 billion EXIM Bank loan plus roughly $2 billion in private capital. Commodity trading houses are expected to manage procurement, and one stated goal is to hold about 60 days of emergency supply for manufacturers.

Auto and technology companies were described as interested participants, and rare-earth stocks rose on the news.

## Our take

This is a different model from the traditional defense stockpile: it's designed to serve commercial users and to keep inventory risk off companies' own balance sheets. Done well, it gives US manufacturers a buffer and gives domestic miners a more reliable buyer when Chinese pricing undercuts them.

The design questions are hard, though. Which minerals, at what price, and who gets access during a crunch? The answers will determine whether Vault stabilizes markets or just adds another large buyer.

## Why it matters for AI infrastructure

Lithium, nickel and rare earths all feed the power side of AI — storage, grid equipment and magnets. A 60-day buffer won't solve a structural shortage, but it can bridge a sudden export cut.

## What to watch
- The list of minerals and target volumes
- Additional private partners joining the structure
- How Vault interacts with Congressional stockpile proposals

Source: Reuters https://www.reuters.com/world/china/trump-launches-12-billion-minerals-stockpile-counter-china-bloomberg-news-2026-02-02/
Page: https://critical-minerals.si/signals/us-launches-project-vault-minerals-stockpile · Cite as Critical-Minerals.si (https://critical-minerals.si)

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# China suspends Ga/Ge/Sb export ban to the US

2025-11-09 · Export controls · Minerals: gallium, germanium, antimony

> A pause, not a reversal. China's ban on shipping three key chip metals to the US is on hold until November 27, 2026.

## What happened

Following the Trump–Xi meeting in South Korea, China's commerce ministry suspended its December 2024 ban on exporting gallium, germanium and antimony to the US. The suspension runs until November 27, 2026.

The metals remain on China's dual-use export list, so every shipment still needs a Chinese license, and the separate ban on supplying US military end users stays in place. China also paused stricter checks on certain graphite exports to the US.

## Our take

This put a ceiling on the worst-case scenario, but only temporarily. Licensing gives Beijing a dial it can turn at any time, and the expiry date lands right as trade-truce negotiations come due.

Anyone running a chip, optics or defense supply chain should treat November 2026 as a planning deadline — build inventory, qualify alternative suppliers, and assume the pause may not be renewed.

## Why it matters for AI infrastructure

Gallium and germanium are core to the optical interconnects and power electronics in AI data centers. Antimony is used in flame retardants and some semiconductors. All three are exposed to a single policy decision.

## What to watch
- Whether the suspension is extended before November 27, 2026
- License approval times for US-bound shipments
- Ex-China gallium and germanium output ramping up

Source: Reuters https://www.reuters.com/world/china/china-suspends-ban-exports-gallium-germanium-antimony-us-2025-11-09/
Page: https://critical-minerals.si/signals/china-suspends-gallium-germanium-antimony-export-ban-us · Cite as Critical-Minerals.si (https://critical-minerals.si)

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# USGS finalizes 2025 list: 60 critical minerals

2025-11-06 · List change · Minerals: copper, silver, silicon, uranium, potash, lead, rhenium, boron, phosphorus, met_coal

> Copper and silver are officially critical now. The US list grew to 60 minerals, its broadest yet.

## What happened

The Interior Department, through USGS, finalized its 2025 List of Critical Minerals with 60 entries. Ten were added: boron, copper, lead, metallurgical coal, phosphate, potash, rhenium, silicon, silver and uranium.

This is the third list under the 2017 executive order on mineral security, and the law requires it to be reviewed at least every three years.

## Our take

Adding copper is the big shift. For years it was treated as a commodity that markets would handle; now it's formally a security concern, which opens the door to federal support for copper mining and smelting.

Including potash and phosphate signals that food security is now part of the mineral-security conversation, while silicon and silver reflect their roles in chips and solar. The list is less a ranking of scarcity than a map of what the US economy can't afford to lose.

## Why it matters for AI infrastructure

Copper and silicon are foundational to AI: one wires the grid and data center, the other is the chip itself. Their critical status makes AI-related supply chains eligible for the policy tools reserved for critical minerals.

## What to watch
- The next scheduled review of the list
- Federal financing for copper projects now that it's listed
- How other countries' lists respond to the US additions

Source: USGS https://www.usgs.gov/news/science-snippet/interior-department-releases-final-2025-list-critical-minerals
Page: https://critical-minerals.si/signals/usgs-final-2025-critical-minerals-list · Cite as Critical-Minerals.si (https://critical-minerals.si)