5 Largest Rare Earth Companies in the World

2. Iluka Resources (ASX:ILU.AX)

Market Cap: $4.976 billion 

Iluka Resources ranks second among the largest rare earth companies in the world, with a market cap of $4.976 billion. Iluka Resources primarily engages in heavy mineral sand extraction, and monazite (a mineral rich in rare earth elements) emerges as an invaluable co-product of Iluka’s mining activities. The company’s in-process rare earth refining complex in Eneabba will also start working by 2025. Along with the Eneabba site, Iluka Resources possesses other extensive mineral sand reserves which present potential feed sources for the in-process refinery (like the Wimmera project in Victoria).