Many light rare earth deposits, such as Maoniuping, Dalucao, Panzhihua deposits, are collectively distributed in Panxi rift of Sichuan Province, China, and closely associated with the aegirine quartz syenite-carbonatite complex. Carbon and oxygen isotope studies demonstrate that the carbonatites in the complex are of typical igneous origin related to mantle processes. Electronic microprobe studies show that the fluid-melt inclusions found in the complex are enriched in light rare earth elements (LREE), which suggests that the magma was rich in LREE and could serve as the ore source for the regional LREE mineralization. Both the aegirine quartz syenite-carbonatite complex and the LREE mineralization found therein were derived from the mantle. The rare gas isotope analyses also support that there is a genetic association between the LREE mineralization and mantle processes.