Rare Earth

United States, 2022

Canada, July 2023

U.S. figures count employer establishments (physical locations); Canadian figures count business locations with employees. The two measures are not directly comparable. 212299 'all other metal ore mining' includes rare earths but also other metals; not rare-earth-only.

Rare earth businesses are valued on the quality of their resources and their access to processing. Agreements to sell future output, and exposure to Chinese pricing, also shape value.

• Resource quality: the grade and composition of the deposit
• Processing access: the ability to separate and refine rare earth elements
• Offtake agreements: contracts to sell future production
• Permits: approvals required to develop and operate
• China price exposure: sensitivity to rare earth prices in China

Sources

1. U.S. Census Bureau, County Business Patterns 2022 (average payroll per employee calculated from published payroll and employment)
2. Statistics Canada, Table 33-10-0806-01, Canadian Business Counts, with employees, June/July 2023 (share with 1–99 employees calculated)

Minerva's CBVs value rare earth companies for family law matters, tax and estate planning, and transactions.