Why the Billion Dollar Rare Earth Elements (REE) Market is Projected for Substantial Expansion in Coming Years

PALM BEACH, Fla., Oct. 02, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - Rare Earth Elements are used to produce permanent magnets and battery alloys that are used in electric vehicle (EV) batteries, smart-phones, defense technology and other applications that require a very high strength-to-weight ratio and performance at high temperatures. For instance, neodymium and praseodymium based rare earth permanent magnets are used in manufacturing EV batteries. As per the International Energy Agency (IEA), the global sales of electric vehicles (EV) were about 14.2 million in 2023, compared to 10.5 million in the previous year. Rising demand for electric vehicles to reduce CO2 emissions is expected to propel the use of permanent magnets in the production of batteries. A report from Grand View Research said that the global rare earth elements market size was estimated at USD 3.95 billion in 2024 and is projected to reach USD 6.28 billion by 2030, growing at a CAGR of 8.6% from 2025 to 2030. The report said: “The usage of permanent magnets in the production of EV batteries is expected to drive the demand for rare earth elements over the forecast period. Neodymium and praseodymium based rare earth permanent magnets are majorly used for this purpose. A key growth opportunity for the rare earth elements industry is the concentration of rare earth elements in China, and the country’s ongoing monopolistic policies with regards to supply and prices. In addition to the supply dominance, the ongoing geopolitical tensions between China, the U.S., and Europe, new opportunities open up for producers from other countries such as the U.S., European countries, Australia, and Africa.” Active Companies in the mining industry this week include Apex Critical Metals Corp. (OTCQX: APXCF) (CSE: APXC), Critical Metals Corp. (NASDAQ: CRML), Ucore Rare Metals Inc. (OTCQX: UURAF) (TSX-V: UCU), Idaho Strategic Resources (NYSE American: IDR), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC).

Grand View Research continued: “Asia Pacific was the dominant region, with a revenue share of over 86% in 2024. The rare earth elements market in China is the largest producer and consumer of REE in the world, producing about 60% of the global output, and processing nearly 90%. By product, neodymium is used in the production of permanent magnets and accounted for the highest revenue share of 30.3% in 2024. By application, magnets were the largest application segment in 2024 and accounted for about 41.0% of the global revenue share. The rare earth elements market in North America is a frontrunner in ongoing R&D for REE substitutes. The region is also exploring alternative mining options to reduce its dependency on Chinese supply. The U.S. has been witnessing a significant rise in the adoption of plug-in EVs, offered by key players such as Tesla, Chevy, Nissan, Ford, Audi, and BMW, among others. Thus, rising demand for EVs is expected to drive the demand for REEs over the forecast period.”

Apex Critical Metals Corp. (OTCQX:APXCF) (CSE:APXC) Acquires Key REE Rights at Highly Prospective Elk Creek Carbonatite Complex, Nebraska -

Highlights:

The Company has secured highly prospective rare earth element (“REE”) mineral rights to key underexplored areas of the Elk Creek Carbonatite Complex in Nebraska, USA, (the “Rift Project”).
Two target areas of known REE mineralization acquired (East Zone and West Zone).
Project includes multiple historical drill holes that are well-mineralized in REE’s, highlights include:
- 155.5 metres (“m”) of 2.70% TREO, Including 54.9 m at 3.30% TREO (EC-93).
- 236.2 m of 2.10% TREO, including 68.2 m of 3.32% TREO (NEC11-004).
Apex’s Rift Project area (~2,784 acres) now represents the largest position in the Elk Creek Carbonatite Complex (NioCorp Developments Ltd. holding the other commanding position in the district with ~1,397 acres).
Nebraska, USA is considered a favourable jurisdiction for development with private land ownership facilitating streamlined permitting path.
The Company is continuing to compile historically available data and is actively planning an inaugural Q4-2025 exploration program, including drilling.

Apex Critical Metals Corp. (CSE: APXC) (OTCQX: APXCF) (FWB: KL9) (“Apex” or the “Company”), a Canadian mineral exploration company focused on the identification and development of critical and strategic metals, is pleased to provide an update regarding the acquisition of certain mineral rights within the Elk Creek Carbonatite Complex in southeastern Nebraska, U.S.A, (see news release dated Sept. 3, 2025).

The Rift Project includes exploration rights and purchase options for approximately 2,784 acres (~1,127 ha), flanking NioCorp Developments Ltd. to the east and west within the Elk Creek Carbonatite Complex. The Company’s property position is considered highly prospective for rare earth element (REE) mineralization based on extensive historical exploration data.

Sean Charland, CEO of Apex Critical Metals notes, “This acquisition positions Apex at the forefront of U.S. critical minerals exploration and development, particularly in rare earths, which are vital for advanced technologies, renewable energy, and US National Security. The Elk Creek area has long been recognized for its geological promise, and we're eager to advance exploration on these underexplored extensions to unlock their full REE potential. Coupled with a favourable jurisdiction and the exploration expertise of Dahrouge Geological, which has multiple globally significant critical metals discoveries to their credit, the Company is primed for further discovery.”

The Elk Creek Carbonatite, a rare metal complex identified over 50 years ago, hosts significant potential for REE’s alongside other critical minerals including niobium. While the area outside of NioCorp’s Developments Ltd. (NASDAQ: NB – Market Capitalization ~US$600M, as of September 25, 2025) Elk Creek Critical Minerals Project have been largely underexplored in recent decades, the acquired Rift Project includes areas with documented high-grade REE intercepts from historical drilling. Project highlights include:

• Of approximately 106 drill holes completed by Molycorp prior to 1986, at least 19 drill holes were completed within the Company’s Rift Project area.

Highlights:

155.5 m of 2.70% TREO (hole EC-93), starting from 149.4 m depth.
Includes 54.9 m at 3.30% TREO.
236.19 m of 2.10% TREO (NEC11-004).
Includes 68.2 m at 3.32% TREO.

According to Quantum Rare Earth Developments Corp. News, 2011-09-19 - “The drill hole (NEC11-004) encountered REE mineralization within strongly altered carbonatite and associated alkaline rocks. The step-out from historical hole EC-93 confirms the potential for a sizable deposit. As well, the potential for the discovery of a high-grade core is also highlighted with 10 individual assays greater than 4.0 per cent TREO (average sample width of 1.37 metres) within the 68.18-metre high-grade REE zone.”

Historical exploration of the Elk Creek Carbonatite included approximately 106 drill locations totalling approximately 46,797 m by Molycorp from 1973 to 1986 across the entire Elk Creek Carbonatite Complex, with at least 19 completed within the boundary of the current Rift Project. In 2011, Quantum Rare Earth Development Corp. completed an additional five holes, with two holes focused on REE mineralization outside of the core Niobium Deposit currently being developed by NioCorp Developments Ltd. Continued… Read this full release along with full notes and comments for Apex Critical Metals by visiting: https://www.financialnewsmedia.com/news-apxc/

Other recent developments in the mining markets include:

Critical Metals Corp. (NASDAQ: CRML), a leading critical minerals mining company, recently announced that it has amended its agreement to acquire the Tanbreez Greenland Rare Earth Mine (the “Tanbreez Project”) from Rimbal Pty Ltd. (“Rimbal”), a company controlled by geologist and project founder Gregory Barnes.

Under the terms of the amended agreement, Critical Metals Corp now has the right to increase its ownership stake in the Tanbreez Project from 42% to 92.5% upon the issuance of approximately 14.5 million ordinary shares of the Company to Rimbal. Under the original agreement, the consideration for this increase in ownership was an unspecified number of shares of Critical Metals Corp with a value of $116 million determined at the time of the increase. The amended agreement revises the original agreement to provide a firm number of shares (14.5 million ordinary shares) to be issued to Rimbal at the closing, which implies a value of $8.00 per Critical Metals Corp ordinary share.

The transaction remains subject to Greenland governmental approval. In addition to the change described above, Rimbal agreed to waive the previous condition that required Critical Metals Corp to invest an additional $10 million before qualifying for the increased ownership stake. Under the amended agreement, Critical Metals Corp is required to consummate the increase in ownership, including issuing the 14.5 million shares described above, promptly upon receipt of Greenland governmental approval of the transaction.

Ucore Rare Metals Inc. (OTCQX: UURAF) (TSXV: UCU) recently provided progress updates regarding its US$22.4 million modified funding agreement with the US Army Contracting Command-Orlando. The purpose of the May 2025, Phase II modification project (the “Project”) is to facilitate the construction of a production-ready commercial RapidSX™ machine and supporting infrastructure in Alexandria, Louisiana.

“During the Phase I government demonstration program, Ucore made significant strides in the validation and commercialization of its RapidSX™ separation technology platform,” stated Mike Schrider, P.E., Ucore's Vice President and Chief Operating Officer. “The Phase II full-scale underway assembly and engineering transition work simply builds upon the approximately 5,500 hours of Demonstration Plant run time in a simulated commercial environment, and allows us to truly optimize the scaled-up equipment against the millions of collected system data points assembled throughout the collection and analysis of nearly 11,000 process samples.

Idaho Strategic Resources (NYSE American: IDR) recently announced drill results showing additional high-grade gold intercepts within broader zones of gold mineralization from the Red Star area of the Golden Chest mine. The discovery of the Red Star area was initially announced by the Company in October of 2024 when it was discovered during a drill program targeting H-Vein extensions. Additional drilling targeting the Red Star area has yielded results similar to those previously released in 2024 and 2025, where discrete high-grade intervals show up within wider zones of mineralization. Since the discovery of the Red Star area, the Company has made its delineation a priority given the proximity to the Company's current operations and existing infrastructure.

Idaho Strategic's President and CEO, John Swallow commented, “The Red Star area is a unique prospect at the Golden Chest compared to the typical veins we've mined and explored previously. Traditionally, at the Golden Chest our operations have centered around narrow, high-grade veins within waste rock. The Red Star is unique in that there are broad zones of lower grade mineralization surrounding the higher-grade intercepts. While there is more exploration work warranted from the newly developed underground drill stations, the Red Star discovery is exciting because the broader zones of mineralization could be amenable to higher productivity mining methods.

Lithium Americas Corp. (NYSE: LAC) (TSX: LAC) recently announced that together with General Motors Holdings LLC (“GM”), its joint venture (the “JV”) partner in the Thacker Pass lithium project (“Thacker Pass” or the “Project”), the Company has reached a non-binding agreement in principle (the “First Draw Terms”) with the U.S. Department of Energy (the “DOE”) to advance the first draw of $435 million (the “First Draw”) on the previously announced $2.26 billion DOE loan (the “DOE Loan”).

Jonathan Evans, President and CEO of Lithium Americas said, “We greatly appreciate the support of the Administration, General Motors and our partners in advancing this vital world-class project. Together, we are onshoring large-scale U.S. lithium production, strengthening America’s supply chain, creating exceptional jobs and enhancing our long-term energy security and prosperity.”

Shilpan Amin, Senior Vice President Global Chief Procurement and Supply Chain Officer of General Motors said, “We’re confident in the Thacker Pass project, which will reduce U.S. dependence on imported lithium and can support domestic manufacturing across many industries, such as aerospace, defense and electrical grid resiliency, in addition to automotive. We are pleased to see it move forward and appreciate the Administration’s support as GM continues to build a secure, resilient supply chain.”

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