Rare Earth Elements are known to occur within apatite‐magnetite ores of the Kiruna type. Previously it was assumed that the REE was associated to the apatite part of the ore. It is now shown that the REE follows the apatite to a much less degree, and that the REE are contained in the minerals monazite, allanite and some unknown REE‐phase still to be identified. Monazite occurs as inclusions in the apatite as well as free particles. Allanite is to some degree in mixed grains with magnetite but also in free particles. Monazite mainly reports to the apatite concentrate while allanite largely goes to the tailings. Laboratory flotation also shows some preferential concentration of heavy REE over light REE to the apatite concentrate. A new EU project, REEcover, will characterise the REE phases in this type of iron ore and among the different process streams within the mineral beneficiation chain.