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USGS2026

Mineral commodity summaries 2026

Introduction Each mineral commodity chapter of the 2026 edition of the U.S. Geological Survey (USGS) Mineral Commodity Summaries (MCS) includes information on events, trends, and issues for each mineral commodity as well as discussions and tabular presentations on domestic industry structure, Government programs, tariffs, 5-year salient statistics, and world production, reserves, and resources. The MCS is the earliest comprehensive source of 2025 mineral production data for the world. More than 90 individual minerals and materials are covered by two-page synopses. Abbreviations and units of measure and definitions of selected terms used in the report are in Appendix A and Appendix B, respectively. Reserves and resources information is in Appendix C, which includes “Part A—Resource and Reserve Classification for Minerals” and “Part B—Sources of Reserves Data.” A directory of USGS minerals information country specialists and their responsibilities is in Appendix D. The USGS continually strives to improve the value of its publications to users. Constructive comments and suggestions by readers of the 2026 MCS are welcomed.

Mineral Commodity Summaries↗

USGS2026

Indirect mineral import reliance and provenance

Mineral commodity supply chain analyses rely on international trade data reported by individual countries as quantities of a mineral commodity form imported from (or exported to) a partner. However, export quantities frequently exceed a country’s domestic production, or occur when no production data are reported, suggesting that the trade partner is merely an intermediary in a transshipment. These discrepancies can result in misleading conclusions regarding supply chain vulnerabilities and dependencies. We present a two-stage methodology to reconcile gaps between reported material sources and actual producers. First, we construct trade networks for specific mineral forms, treating production as a type of import to distinguish producing nations from entrepôts. By tracing flows through these networks, we attribute a target country’s imports to original producers via both direct (in a single trade link) and indirect (transferring through intermediaries) pathways. Second, these production-attributed flows are incorporated into multi-stage supply chains to determine the upstream provenance of feedstock for domestic refining and processing. This approach provides a more representative picture of trade reliance. For example, while the United States (U.S.) Geological Survey reports no imports of unwrought antimony metal from Russia in 2022 (U.S. Geological Survey (2025). Mineral Commodity Summaries 2025. 10.3133/mcs2025), our analysis reveals that over 16% of U.S. imports can be traced back to Russian mining through intermediate processing in countries such as China, India, and Vietnam. Additionally, our analysis of the aluminum supply chain shows that while the U.S. is reported as 52% net import reliant on aluminum materials in 2022, it is 100% reliant on foreign bauxite, 7% of which arrived indirectly. This unreported reliance, which is predominantly tied to bauxite mined in Brazil (43%) and Jamaica (28%), highlights our methods ability to capture the supply chain’s dependence on foreign feedstock that may be missing in single-stage trade data.

Mineral Economics↗

USGS2025

Estimating the hypothetical endowment of critical minerals and other commodities in porphyry copper mine waste in the Four Corners states, USA

Society is fundamentally dependent upon commodities that are used in end-use products for the aerospace, defense, energy, telecommunication, and transportation sectors, resulting in centuries of mining to supply these commodities and materials. Waste from these mining operations can remain on the landscape indefinitely, but there is a lack of national understanding of the distribution and scale of such waste features. The renewable energy transition will continue to increase demand for critical minerals and will result in increasing volumes of mine waste on the Earth’s surface. Reprocessing mine waste can reduce environmental risks and recover needed commodities to match growing demand for societal growth. Therefore, understanding the approximate abundance of commodities that may be available for recovery within mine waste features can be an important piece of domestic critical mineral supply.

Arizona, Colorado, New Mexico, Utah↗

USGS2026

Top-down targeted network analysis of critical mineral commodities applied to international geochemistry database

The global demand for critical mineral commodities is rapidly increasing, making domestic production an important factor in supporting the economy and national security. Large scale, publicly available geochemical databases allow for the application of data informatics methods to interrogate critical mineral commodities data for correlations in deposit formation and distribution, particularly for identifying enrichment of multiple critical mineral commodities at the same deposit. In this study, we applied network analysis to the Critical Minerals Mapping Initiative (CMMI) ore geochemistry (Critical Minerals in Ores, CMiO) database to identify the high concentration (defined as 10× bulk crustal abundance) co-occurrence of different critical mineral commodities across a mineral system hierarchy from deposit environments to individual deposits. Identifying patterns or unique outliers in enrichment in network communities will allow for the location of secondary critical mineral commodity resources from under-utilized deposits. We find trends in the enrichment of critical mineral commodities in network-communities between the elements praseodymium (Pr), neodymium (Nd), terbium (Tb), and dysprosium (Dy) across multiple CMiO database deposit environments and groups down to specific deposit types and sites. A separate trend in network community deposition is observed as well between iridium (Ir) and platinum (Pt) in deposit environments, groups, types, and sites. Network analysis focused on critical minerals in magmatic-hydrothermal deposits identified multiple deposit sites from different deposit types within the CMiO database with concentrations of Dy, Nd, Tb, Pr, Ir, and Pt that are at least ten times greater than the crustal average. This approach can be applied to any target element(s) or deposit(s) of interest, allowing broad investigation of co-enriched critical mineral commodities.

Journal of Geochemical Exploration↗

USGS2025

Methodology and technical input for the 2025 U.S. List of Critical Minerals—Assessing the potential effects of mineral commodity supply chain disruptions on the U.S. economy

The Secretary of the Interior, acting through the Director of the U.S. Geological Survey, is tasked by section 7002 (“Mineral Security”) of title VII (“Critical Minerals”) of the Energy Act of 2020 (Public Law 116–260, December 27, 2020, 116th Congress) with reviewing and revising the methodology used to evaluate mineral commodity supply risk and the U.S. List of Critical Minerals (LCM) no less than every 3 years. Following two previous LCM assessments, this analysis represents the latest technical input for evaluating each mineral commodity’s supply risk and determining their recommended status on the LCM. We evaluated mineral commodity supply risk using two criteria: (1) an economic effects assessment that quantified the potential effects of various trade disruption scenarios on the U.S. economy, and (2) an examination of whether the mineral commodity’s U.S. supply chain relied on a sole domestic producer that represented a single point of failure. For the first criterion, postdisruption equilibrium quantities and prices for each mineral commodity were calculated based on their price elasticities of supply and demand and the availability of excess production capacity for each yearlong foreign trade disruption scenario. Subsequently, a nonlinear optimization routine was used with detailed economic input-output tables to estimate the potential economic effects on the U.S. economy of over 1,200 scenarios for 84 mineral commodities. After accounting for the probability of each scenario’s occurrence, the overall results are presented in terms of changes in U.S. gross domestic product (GDP) by individual industry and the economy overall. The results, which ranged from a net decrease in U.S. GDP of nearly $4.5 billion to a net increase of $33 million, largely reflect U.S. import dependency and world production concentration. Using the Jenks natural breaks optimization method, a statistical classification technique, we categorized the mineral commodities into several classes based on this overall risk quantification. Mineral commodities with annualized probability-weighted net decreases in U.S. GDP greater than $2 million were recommended for inclusion on the LCM. If a mineral commodity did not meet the threshold for inclusion on the LCM under the first criterion, its domestic supply chain was examined under the second criterion, which recommended a mineral commodity for inclusion on the LCM if there was only a single domestic producer. Ultimately, the two criteria resulted in the recommendation of the addition of six mineral commodities (in descending risk order, potash, silicon, copper, silver, rhenium, and lead) to and the removal of two mineral commodities (arsenic and tellurium) from the LCM. By using an economic effects assessment, the results of this analysis provide a prioritization that can also be compared directly against other risk analyses and the cost of various risk mitigation strategies.

Open-File Report↗

USGS2026

Production of mineral commodities and geospatial map of the mineral industries and related infrastructure of China

As part of the U.S. Geological Survey’s (USGS) mission to distribute global mineral information and analyze supply chains, this study provides a comprehensive review of the global significance of China’s mineral production and capacity in 2023. Of 77 mineral commodities in the USGS dataset, China produced 74 and was the world’s first-ranked producer for 39 of the 74. Compared to the high share of global mineral production, including up to 98 percent of global gallium production, the country’s share of global mineral reserves was relatively small, ranging from 20 percent (zinc ore) to 52 percent (tungsten ore). China’s imports of metal ores, slag, and ash accounted for 64 percent of global imports of such commodities by value. The country’s exports of base metals and articles of base metal accounted for 17 percent of the global exports. To help nongeographic information system users assess the spatial distribution of mineral mines, processing facilities, and ports for trades in China, this study created a geospatial (also called “georeferenced”) portable document format (GeoPDF) map. In addition, the GeoPDF contains mineral resource tracts (such as antimony, copper, potash, coal, and oil and gas), exploration sites, and energy infrastructure based on the preexisting USGS data.

Open-File Report↗

USGS2025

Mine waste as a potential source of critical minerals and other commodities: Examples from the Four Corners states, USA

The growing demand for critical minerals and other mineral resources has raised concerns about possible supplies of these essential commodities. Mine waste is a potential source of these essential commodities. We compiled a geospatial database of publicly available data of the largest non-fuel mine waste features (>200,000 m 2 in areal extent) in the Four Corners states of the United States, where most of those features are from porphyry Cu deposits. The combined volume of those large porphyry Cu mine waste features is approximately 17 cubic kilometers, 60% of which is ore-related material such as tailings. Using publicly available data on density, grade, and previous recovery values, we estimate the contained endowments of Ag, As, Au, Bi, Cu, Mo, Re, S, Sb, Se, Te, and W. These estimates indicate endowments within ore-related mine wastes are collectively comparable to endowments of giant to supergiant deposits. If fully recovered, these commodities could meet current global demand from less than 1 year (Sb) to more than 200 years (Re), underscoring the enormous untapped resource potential of mine waste.

Arizona, Colorado, New Mexico, Utah↗

USGS2025

Modeling byproduct and coproduct mine production and mineral substitution using multidimensional supply curves: Application to the Cu-Co-Ni system and beyond

Rapid demand growth is expected for many metals used in the energy transition. Many of these metals are byproducts of other commodities. Byproduct production’s price response is tied to host mineral economics, complicating its supply dynamics. Moreover, many of these metals are used in applications where the material properties desired are difficult to substitute; effectively, limiting how quickly demand can adapt to changes in commodity price. Previous work has demonstrated the interconnectivity of jointly produced mineral commodities from the supply side, where the copper–cobalt–nickel system was used and demand was assumed independent across commodities. Studies to understand byproduct-coproduct market interconnectivity on the demand side are limited, while studies on the interconnectivity of supply and demand simultaneously are even more so. We propose a modification to the multicommodity supply curve method to enable inter-commodity effects on demand simultaneous with supply. In batteries, high cobaltprices may push consumers to transition to high-nickel chemistries, causing the nickel demand surface to decrease with nickel price but increase with cobaltprice, creating a two-dimensional demand surface. Below cross-price elasticities of 0.05, inter-commodity effects were found to be negligible, potentially permitting exclusion of these effects for many commodities. This additional demand curve complexity introduces potential computation challenges alongside the capacity to model many interrelated commodity systems such as rare earth elements, ferroalloys, country-oriented subsidies or restrictions, and bifurcated sustainable metals markets. By presenting the work done on multicommodity supply surfaces to date and potential new directions, this work aims to catalyze the next round of innovative approaches to modeling jointly produced commodities.

Conference Paper↗

USGS2025

Understanding market sensitivity: Estimation of supply and demand elasticities for non-fuel minerals

In today’s rapidly changing economic landscape, understanding market responsiveness to price changes and the factors influencing commodity prices has become increasingly relevant. Price elasticities serve as indicators of how variations in market conditions affect supply and demand, providing insights into the sensitivity of commodity markets to price fluctuations. This paper presents a comprehensive analysis of price elasticities of supply and demand for 74 non-fuel mineral commodities including precious metals, base metals, minor metals, and industrial minerals that are utilized across various industries. We employ various econometric techniques, including fixed effects models for panel data and two-stage dynamic ordinary least squares (2S-DOLS) alongside autoregressive distributed lag (ARDL) models for time series analysis, to derive robust estimates of price elasticities. Our findings reveal variability in elasticities among different commodities and indicate that all studied mineral commodities exhibit price inelastic supply and demand in the short run, which we define as one year for the purposes of our analysis, given that the data is all annual. This research provides original estimates of price responsiveness for a wide range of commodities that have not been previously addressed in the literature, thereby enhancing the understanding of market dynamics in the mineral sector. Given that price elasticities can be influenced by factors such as market structure, technological advancements, mining costs, and industry-specific demand drivers, we use variables that serve as proxies for these factors.

Mineral Economics↗

USGS2025

Global maps of critical mineral production in 2023

Introduction The global production of many mineral commodities, especially critical minerals, is concentrated in a few countries that have mineral resources and the infrastructure necessary to mine and process those resources. For this reason, the type and amount of mineral production differ by country. For example, many countries produce such metallic ores as gold and silver, whereas only a few countries produce magnesium, niobium, platinum-group metals, and rare earths. The concentration of mining and processing in certain countries necessitates the existence of a global supply chain. A mineral supply chain is the sequence of mining and processing of minerals and manufacturing of products. Mineral supply chains are global in scale, complex, and dynamic. Supply chain data can be used to understand how a country’s mineral resources and various economic, technical, and environmental factors affect the complexity of global supply chains. This fact sheet summarizes the world’s leading countries (those accounting for 5 percent or more of a commodity’s global production in 2023) for production of select mineral commodities (mainly critical minerals) in the mining and processing stages. These countries and the minerals they produce are synthesized on global maps to communicate the status of, and potential risk to, mineral commodity supply chains from geographic production concentration. Trade data from United Nations Statistics Division (2025) is used to support assessments of the observed production data.

Fact Sheet↗

USGS1999

The mineral economy of Brazil--Economia mineral do Brasil

This study depicts the Brazilian government structure, mineral legislation and investment policy, taxation, foreign investment policies, environmental laws and regulations, and conditions in which the mineral industry operates. The report underlines Brazil's large and diversified mineral endowment. A total of 37 mineral commodities, or groups of closely related commodities, is discussed. An overview of the geologic setting of the major mineral deposits is presented. This report is presented in English and Portuguese in pdf format.

Data Series↗

USGS2025

Estimating the probability of export restrictions to inform mineral criticality

As demand for advanced technologies rises, mineral commodities will increase in geopolitical importance. To assess risks associated with mineral commodity supply chain disruptions, governmental agencies and others have developed "criticality" assessments, with criticality described using the economic impact and probability of supply chain disruptions. In previous work, subjective supply risk indicators were developed to approximate this probability, typically combining several factors such as supply diversity and political stability of trading partners, where indicator weightings can substantially impact results. This work explicitly quantifies trade barrier probability using an ensemble of several machine learning classifiers, with probability estimates informed by exogenous variables such as prior trade barrier implementation and global export dominance. Major differences in the high-probability countries and commodities are observed across models, but the ensemble method highlights Indonesia, China, Tanzania, and the United States as particularly high risk. This approach enables a direct, quantitative, objective approach to assessing trade barrier probability, enhancing risk identification and prioritization for policymakers.

SSRN↗

USGS2025

Critical minerals in mine waste

Introduction Critical minerals are commodities with vulnerable supply chains that play a vital role in supporting the United States’ economy, national defense and security, emerging technologies, and energy independence. The prosperity of our Nation depends on generating a resilient supply of domestic critical minerals; mine waste may be an untapped source of these commodities. Mine waste from centuries of legacy mining persist on the landscape and may contain critical minerals and other valuable commodities previously deemed uneconomic to recover. At modern mines, the financial viability of recovering byproduct critical minerals, which are not the primary target, may be marginal and can ultimately destine them to mine waste. Further, mine waste can be a liability for the mining company or, at legacy mines, the taxpayer because of its effect on the landscape. The U.S. Geological Survey (USGS) has several initiatives to evaluate critical mineral resources in various types of waste. This factsheet highlights studies of mine waste carried out by USGS scientists at the Geology, Energy & Minerals Science Center in collaboration with other science centers funded through the USGS Mineral Resources Program. Recovery of critical minerals from mine waste can aid in remediation efforts and increase domestic supply of vital mineral resources.

Fact Sheet↗

USGS2025

Critical Minerals in Ores (CMiO) database

Critical minerals are commodities essential to modern industrial and strategic technologies and are highly vulnerable to supply chain disruption. The Critical Minerals Mapping Initiative (CMMI) is a collaboration among the U.S. Geological Survey (USGS), the Geological Survey of Canada, and Geoscience Australia that aims to deepen global understanding of where critical minerals are located. A key output of this initiative is the Critical Minerals in Ores (CMiO) database that is advancing our collective understanding of critical minerals distributions. For instance, publicly available data on the concentrations of many critical minerals are sparse because these commodities can only be produced in small, yet essential, quantities compared to the primary commodities like copper and zinc. The CMiO database helps bridge this gap by offering high-quality, multielement geochemical data from a wide variety of critical mineral-bearing deposits around the world. Importantly, it uses a novel consensus deposit environment, group, and type classification scheme developed by the agencies that allows comparisons among ore deposits from different regions. The CMiO database contains geochemical data for more than 20,000 samples from more than 100 deposit types comprising 10 deposit environments.

Fact Sheet↗

USGS2025

Estimating the probability of export restrictions to inform mineral criticality

To assess risks associated with advanced technologies’ supply chain disruptions, governmental agencies and others have developed mineral “criticality” assessments, with criticality described using the economic impact and probability of supply chain disruptions. Previous work developed subjective supply risk indicators to approximate this probability, typically combining several factors such as supply diversity and trading partners’ political stability, where indicator weightings can substantially impact results. This work explicitly quantifies export barrier probability using an ensemble of machine learning classifiers, with probability estimates informed by exogenous variables, including prior barrier implementation and global export dominance. Major differences in high-probability countries and commodities are observed across models, but the ensemble method highlights Indonesia, China, Tanzania, and the United States as particularly high risk. The Supplementary Data File provides export barrier probability estimates for each analyzed country-commodity pair, enabling a direct, quantitative, objective contribution to assessing mineral criticality, enhancing risk identification and prioritization for policymakers.

Resources, Conservation, and Recycling↗

USGS2026

Cruise summary—Samoa Basin abyssal mapping—Box coring leg, Pago Pago, Territory of American Samoa to Pago Pago, American Samoa, April 11– May 1, 2026

Expedition Summary U.S. Geological Survey scientists led a box coring effort to the Samoa Basin to characterize minerals and the surrounding abyssal sediments and fauna. Thirty-eight box cores were deployed between April 13, 2026, and April 28, 2026. Thirty-six box cores recovered sufficient material to determine nodule density, and 35 recovered sufficient material for subcores to be collected. The purpose of this Data Report is to provide a summary of samples collected, initial results that were obtained shipboard, and briefly mention planned future analyses from this expedition.

Data Report↗

USGS2025

Modeling interconnected minerals markets with multicommodity supply curves: Examining the copper-cobalt-nickel system

Demand for many of the metals used in the energy transition is expected to grow rapidly. Many of these are by-products, often considered critical because their production responds weakly to prices and is instead tied to the economics of the host mineral. We present a model of prices and production for jointly produced commodities that accounts for interconnectivity between host and by-product markets at the mine level. We demonstrate this method using the copper–cobalt–nickel system, in which approximately 99% of cobalt is a by-product of copper or nickel mining. Our results show that the model more accurately captures the economic benefits of diversified mine outputs than previous approaches. Furthermore, changes in demand drivers for any two commodities produce non-linear effects on production and price. We challenge the prior best-practice assumption that cobalt cannot impact the copper or nickel markets. Recognizing the importance of both copper and cobalt for future electrification, we emphasize that incentivizing the copper industry to reduce cobalt supply risks could inadvertently undermine copper supply.

Nature Communications↗

USGS2026

Critical minerals in zinc ore—An update on Earth Mapping Resources Initiative Research in the Boulder Batholith region, Montana

Plain Language Summary U.S. Geological Survey research, in collaboration with Montana Technical University and Montana Bureau of Geology and Mines, is providing key critical mineral information that may have potential for critical mineral production of several mining districts in the Boulder Batholith region, to better understand the abundance and distribution of natural resources within this region. Continued research can be used to show the potential for previously undiscovered critical mineral resources in southwestern Montana and in other parts of the United States.

Montana↗