Top ASX rare earth stocks to watch in 2026

Rare earths are a group of metals used in permanent magnets, electric motors and clean energy technologies. The seven companies on this list cover different stages of development – Brazilian Rare Earths ($BRE) is exploring its project in Bahia, Brazil, while Lynas Rare Earths ($LYC) mines in Australia and processes material in Malaysia.

How we built this list: We selected these companies based on their industry. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.

Past performance is not a reliable indicator of future performance.

Source: Stake market data. Figures in A$. Data updated as of 21 September 2026.

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1. Meteoric Resources ($MEI)

Meteoric Resources (MEI) share price over the last year: started at A$0.14, ended at A$0.19, a change of +37.0%. Range over the period: high A$0.26, low A$0.14. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $0.19 · Daily: 2.8% · Market cap: $537.7M · Sector: Basic Materials · Industry: Metals & Mining

Meteoric Resources ($MEI) is an Australian company developing a rare earths project in the state of Minas Gerais, Brazil. The project, called Caldeira, covers more than 193 square kilometres across roughly 77 mining and exploration licences.

Caldeira sits in the southwest of Minas Gerais, positioned between the cities of Caldas, Poços de Caldas and Andradas. That location puts it about 254 km from São Paulo and around 350 km from the port of Santos – proximity to a major export port that matters for any future mineral shipments.

CEO Stuart Gale leads the company as it pushes Caldeira through development. $MEI remains at the project development stage, so the focus right now is on advancing licences and project work rather than production.

2. Northern Minerals ($NTU)

Northern Minerals (NTU) share price over the last year: started at A$0.037, ended at A$0.025, a change of −32.4%. Range over the period: high A$0.07, low A$0.023. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $0.025 · Daily: 0.0% · Market cap: $238.6M · Sector: Basic Materials · Industry: Metals & Mining

The Browns Range Project in northern Western Australia is what defines Northern Minerals Limited ($NTU). The project's tenements are rich in dysprosium and terbium – two heavy rare earth elements used in the permanent magnets found in electric motors and clean energy technologies. Browns Range sits roughly 160 kilometres south-east of Halls Creek, on the northern edge of the Tanami Desert.

$NTU also holds a cluster of additional exploration projects across the region. The John Galt Project, covering 78 square kilometres in East Kimberley, lies about 150 kilometres north of Browns Range. Boulder Ridge and Rabbit Flats extend the portfolio further, with Rabbit Flats sitting near the Tanami village in the Northern Territory.

3. Lynas Rare Earths Limited ($LYC)

Lynas Rare Earths Limited (LYC) share price over the last year: started at A$15.29, ended at A$13.98, a change of −8.6%. Range over the period: high A$22.07, low A$12.19. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $13.98 · Daily: -2.6% · Market cap: $14.07B · Sector: Basic Materials · Industry: Metals & Mining

Lynas Rare Earths Limited ($LYC) mines at Mt Weld in Western Australia, extracting ore and producing mixed rare earths concentrates. A processing facility in Kalgoorlie converts that material into Mixed Rare Earth Carbonate, which is then shipped to $LYC's advanced materials plant on Malaysia's east coast for separation into individual rare earth products. That Malaysian plant sits on a 100-hectare site in the Gebeng Industrial Estate, a purpose-built petrochemical industry zone near Kuantan.

Mt Weld is also the focus of an expansion project designed to lift feedstock production to support 12,000 tons per annum of finished NdPr (neodymium-praseodymium) oxide, used in permanent magnets. $LYC also holds a presence in the U.S. through its Lynas USA operation. Pol Le Roux leads the company, which employs 1,156 people across its sites.

4. Iluka Resources Limited ($ILU)

Iluka Resources Limited (ILU) share price over the last year: started at A$5.91, ended at A$5.99, a change of +1.4%. Range over the period: high A$9.28, low A$4.94. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $5.99 · Daily: -1.2% · Market cap: $2.58B · Sector: Basic Materials · Industry: Metals & Mining

Iluka Resources Limited ($ILU) has built its business on mineral sands, mining titanium dioxide feedstocks and zircon at sites in South Australia, Western Australia and New South Wales. Those raw materials move through its Narngulu mineral separation plant and Synthetic Rutile Kilns in WA.

The rare earths operation is still taking shape. $ILU is constructing the Eneabba Rare Earths Refinery in WA, with Phase I and II of the Eneabba development underway. It also holds an investment in Northern Minerals Limited through that segment. CEO Tom O'Leary oversees a workforce of 909 people.

5. Lindian Resources ($LIN)

Lindian Resources (LIN) share price over the last year: started at A$0.25, ended at A$0.61, a change of +144.0%. Range over the period: high A$1.01, low A$0.25. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $0.61 · Daily: -8.3% · Market cap: $1.13B · Sector: Basic Materials · Industry: Metals & Mining

Lindian Resources ($LIN) is developing rare earths and bauxite assets across Malawi, Guinea and Tanzania. Its flagship project, the Kangankunde Rare Earths Project in Malawi, holds a rare earth resource with low levels of uranium and thorium.

To move material from mine to market, $LIN uses the SARECO hydrometallurgical plant in Kazakhstan, which converts Kangankunde monazite concentrate into Mixed Rare Earth Carbonate. CEO Alwyn Vorster also oversees a bauxite portfolio that includes the Gaoual, Lelouma and Woula projects in Guinea, plus tenements in Tanzania's bauxite belt.

6. Arafura Rare Earths ($ARU)

Arafura Rare Earths (ARU) share price over the last year: started at A$0.19, ended at A$0.19, a change of +2.7%. Range over the period: high A$0.48, low A$0.17. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $0.19 · Daily: 0.0% · Market cap: $1.15B · Sector: Basic Materials · Industry: Metals & Mining

Arafura Rare Earths ($ARU) is developing the Nolans Project, a mine and processing facility located about 135 kilometres north of Alice Springs in the Northern Territory. The project is designed to take ore through beneficiation, extraction and separation on site, producing finished rare earth oxides rather than shipping raw material elsewhere.

The flagship product is neodymium-praseodymium oxide – NdPr for short – which goes to magnet and magnet alloy makers. Those magnets end up in electric motors and renewable energy equipment. $ARU also produces mixed middle-heavy rare earth oxides as a secondary output from the same process.

7. Brazilian Rare Earths ($BRE)

Brazilian Rare Earths (BRE) share price over the last year: started at A$3.78, ended at A$3.75, a change of −0.8%. Range over the period: high A$6.61, low A$3.38. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: $3.75 · Daily: -8.1% · Market cap: $1.04B · Sector: Basic Materials · Industry: Metals & Mining

The Rocha da Rocha province in the state of Bahia is where Brazilian Rare Earths ($BRE) concentrates its rare earth and critical minerals exploration. The company holds over 267 granted exploration permits there, covering more than one million acres of ground.

Under CEO Bernardo da Veiga, $BRE is also advancing the Amargosa Bauxite-Gallium Project in Bahia, which is at an advanced exploration stage. The Sulista Project rounds out the portfolio, sitting roughly 80 km southwest of the Monte Alto project.

Common questions

How do I invest in rare earth stocks in Australia?

All seven companies in this list trade on the ASX, so you can buy them through a share trading platform by searching the ticker and placing an order during market hours. Settlement runs on a T+2 cycle, meaning shares arrive in your account two business days after the trade. Rare earth companies vary widely in size and development stage.

What are the key risks of rare earth stocks?

Some of the key risks include rare earth element prices, which can move sharply depending on global supply and processing capacity. Most companies in this list are at exploration or development stage, meaning projects may take years to generate revenue, and capital requirements can grow as development progresses. The processing side adds another layer – separating individual rare earth elements from ore is technically demanding and capital-intensive, which can affect timelines and costs regardless of how promising a deposit looks. Several companies here operate outside Australia, so currency movements between the AUD and local currencies – in Brazil, Malaysia, Malawi and elsewhere – can affect project economics in either direction.

What's the difference between exploration-stage and production-stage rare earth companies?

The companies in this list sit at very different points on the development curve. $LYC mines and processes rare earths across sites in Australia, Malaysia and the U.S., while most other names here – including $MEI, $NTU, $BRE, $LIN and $ARU – are advancing projects through exploration or pre-production development. Earlier-stage companies carry more uncertainty around project timelines, capital needs and permitting approvals. $ILU has a different shape again: it runs operating mineral sands mines alongside a rare earths refinery currently under construction at Eneabba in Western Australia.

Disclaimer

Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.

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