Explainer
Heavy vs light rare earths
Light rare earths have a median 2025 oxide price of $14.91 per kg; heavy rare earths have a median of $58 per kg, and 5 of 9 heavy elements have needed a Chinese export licence since April 2025. The split decides which rare earths are cheap, scarce and politically exposed.
USGS Mineral Commodity Summaries 2026 · reviewed 28 October 2026
Light and heavy rare earths compared
| Measure | Light | Heavy |
|---|---|---|
| Elements | Lanthanum, Cerium, Praseodymium, Neodymium, Samarium, Europium | Yttrium, Gadolinium, Terbium, Dysprosium, Holmium, Erbium, Thulium, Ytterbium, Lutetium |
| Median 2025 oxide price | $14.91 per kg | $58 per kg |
| Price range | $1.00 to $74 per kg | $9.00 to $1,010 per kg |
| Licence since April 2025 | 1 of 6 | 5 of 9 |
| Main uses | Catalysts, glass, batteries, NdFeB magnets (Nd, Pr) | Heat-resistant magnets (Dy, Tb), lasers, medical imaging, phosphors |
| Supply | Most of every ore; mined in several countries | Scarcer; elevated in ion-adsorption clays; separation concentrated in China |
Light = lanthanum to europium (excluding promethium, which has no commercial market); heavy = gadolinium to lutetium plus yttrium; scandium is neither. Prices: USGS Mineral Commodity Summaries 2026 annual averages for oxide. Thulium has no USGS price.
Every element by group and price
| Element | Group | 2025 oxide, USD/kg | Licence |
|---|---|---|---|
| Lanthanum | Light | 1.00 | Not listed |
| Cerium | Light | 1.71 | Not listed |
| Praseodymium | Light | 74 | Not listed |
| Neodymium | Light | 73 | Not listed |
| Samarium | Light | 2.82 | April 2025 list |
| Europium | Light | 27 | October 2025 package (suspended) |
| Yttrium | Heavy | 9.00 | April 2025 list |
| Gadolinium | Heavy | 30 | April 2025 list |
| Terbium | Heavy | 1,010 | April 2025 list |
| Dysprosium | Heavy | 239 | April 2025 list |
| Holmium | Heavy | 70 | October 2025 package (suspended) |
| Erbium | Heavy | 46 | October 2025 package (suspended) |
| Thulium | Heavy | n/a | October 2025 package (suspended) |
| Ytterbium | Heavy | 15 | October 2025 package (suspended) |
| Lutetium | Heavy | 888 | April 2025 list |
| Scandium | Neither | 640 | April 2025 list |
Why heavy rare earths are the bottleneck
Heavy rare earth supply is the tighter chain. USGS records that at least five companies were developing commercial-scale heavy rare earth processing in 2025 and none produced sustained commercial-scale quantities. US imports of heavy rare earth compounds and metals were an estimated 100 tonnes in 2025, with terbium, holmium and lutetium sourced 100% from China in 2021 to 2024 shipping records.
Policy follows the same line. China licensed seven of the elements (Sm, Gd, Tb, Dy, Lu, Sc, Y) on 4 April 2025. A second package covering Eu, Ho, Er, Tm and Yb was announced in October 2025 and suspended for one year on 7 November 2025. See the export-control timeline.
Magnets show the link. Neodymium and praseodymium form the alloy, while dysprosium and terbium are added for heat resistance, so heavy rare earth supply limits high-temperature magnet output. Prices for the four are on the rare earth prices page.
Heavy vs light rare earths: frequently asked questions
What is the difference between light and heavy rare earths?
Light rare earths (lanthanum to europium) are most of every ore and cost about $1 to $74 per kg as oxide. Heavy rare earths (gadolinium to lutetium, plus yttrium) are scarcer, cost $6 to $1,010 per kg as oxide, and are supplied almost entirely through Chinese separation.
Which rare earths are heavy?
Yttrium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium and lutetium. USGS's heavy rare earths chapter covers terbium to lutetium and excludes yttrium.
Why do heavy rare earths matter for magnets?
Dysprosium and terbium are added to neodymium-iron-boron magnets to keep them strong at high temperature, as in electric motors. USGS notes light rare earths can substitute for heavy ones in several uses, generally with less effect.
Where are heavy rare earths found?
USGS says heavy rare earths are less abundant than light ones but elevated in some ores, including ion-adsorption clays. A mine in Brazil produced mixed concentrates from ionic clays with elevated terbium and dysprosium in 2025.
Sources
Information only, not investment advice. See also the US critical minerals list, what are rare earth elements and reserves by country.