Complete report is available @ http://www.rnrmarketresearch.com/china-rare-earth-industry-report-2013-2016-market-report.html .

Rare earth, also known as rare earth metal or rare earth element, collectively refers to lanthanides (including fifteen elements) and closely-related scandium and yttrium. At present, rare earth resources have been discovered in about 35 countries and regions around the world, with total reserves of 140 million tons, of which 39.3% are owned by China.
As China is rich in rare earth resources and has made strenuous efforts in mining, over 90% of global rare earth output comes from China. However, affected by the government’s control on exploration of rare earths, the output of rare earth in China has been continuing to decline in recent years, to 83,400 tons in 2013, down 16.6% from a year ago.
China is not only a large producer of rare earth but a big consumer, with consumption in 2013 approximating 79,000 tons. Among all application fields, magnetic materials made the largest contribution, accounting for 45% or so.