The U.S. Geological Survey (USGS) has released its 2026 Mineral Commodity Summaries, the gold-standard annual benchmark for global mineral markets. The report lays out full 2025 data on U.S. nonfuel mineral production, cross-border trade and supply chain security, delivering pivotal insights for industry, policymakers and investors as critical minerals emerge as a core geopolitical and economic battleground.
The total value of U.S. nonfuel mineral production climbed 5.6% year-over-year to $112 billion in 2025, up from $106 billion in 2024, marking steady, broad-based expansion for the sector.
Growth was sharply split across key segments. Domestic metals production was the standout performer, with its total value surging 13% to $38.1 billion. Industrial minerals posted a more modest 2% gain, reaching $73.7 billion in total output value. Crushed stone remained the nation’s top nonfuel mineral commodity, generating $26.8 billion in production value and accounting for 24% of total U.S. nonfuel mineral output. Construction aggregates, which saw a 4% rise in value, made up nearly 60% of total industrial minerals production.
The sector’s economy-wide ripple effects remained substantial. Downstream industries fueled by domestic and recycled mineral materials, plus $185 billion in net imports of processed mineral goods, generated $4.09 trillion in value added in 2025 — equal to more than one-eighth of total U.S. economic output.
Extreme price divergence defined global mineral markets in 2025, reshaping production incentives and domestic investment priorities. Bismuth prices skyrocketed 270% over the year, while antimony and germanium prices climbed 144% and 106% respectively. By contrast, lithium — a cornerstone material for the global energy transition — tumbled 24%, with manganese and nickel prices sliding 19% and 11% respectively.
The price swings drove targeted domestic production gains. U.S. cobalt and nickel output jumped 50% and 34% year-over-year, even as lithium production held flat. Record-high gold and silver prices — up 38% and 34% respectively — lifted their production values by 32% and 43%. Most notably, the U.S. saw its first commercial-scale antimony mining operations since 2001. The year also brought ongoing capacity expansions in domestic rare earth processing and targeted upgrades to the U.S. steel sector, marking tangible progress in onshoring critical mineral supply chains.
Persistent supply chain vulnerabilities take center stage in the report, with U.S. import reliance on key minerals worsening in 2025. The U.S. remained 100% net import reliant on 16 nonfuel mineral commodities, with more than 50% import dependence for 54 categories — a further deterioration from 2024 levels. China stands as the primary supplier for 14 of the U.S.’s most import-dependent critical minerals, amplifying concerns over geopolitical supply chain risks.
In direct response to these vulnerabilities, the USGS finalized a sweeping update to its U.S. Critical Minerals List in 2025, expanding the roster from 50 commodities in 2022 to 60. The updated list, for the first time, includes major industrial metals such as copper and silver, signaling a major escalation in policy focus on mineral supply chain security.
The report details a wave of policy shifts that have turned critical minerals into a core geopolitical battleground, accelerating a global restructuring of mineral supply chains.
On the U.S. policy front, officials ramped up use of Section 232 tariff measures in 2025, imposing additional levies on steel, aluminum and copper imports. The administration also launched a sweeping Section 232 national security investigation into critical minerals and their downstream end products, including semiconductors, electric vehicles, batteries and smartphones.
Parallel policy shifts rippled across global markets. China implemented multiple rounds of export licensing requirements on key metals throughout 2025, covering bismuth, indium, tungsten and a suite of rare earth elements. The Democratic Republic of the Congo replaced a temporary cobalt export ban with a formal quota system, while Gabon announced a ban on manganese ore exports set to take effect in 2029.
These measures have accelerated a broader shift toward regionalization and onshoring of critical mineral supply chains across major economies, upending the long-standing globalized trade model for mineral commodities.
Taken together, the 2026 Mineral Commodity Summaries is far more than an annual scorecard for the U.S. mining sector. It is a clear reflection of the rising strategic value of critical minerals amid the global energy transition and high-tech manufacturing competition. While the U.S. has taken multi-pronged steps to advance supply chain autonomy, its deep-seated reliance on foreign mineral supplies and escalating global trade frictions are set to pose long-term challenges to the sector’s growth and stability.
