Abstract Carbonatite complexes are globally significant sources of rare earth elements (REEs); however, mechanisms governing REE deposition in various tectono-lithologic settings, encompassing host rocks, wall rocks, ore-controlling structures, and metasomatism, remain inadequately understood. The Zhengjialiangzi mining camp, situated within the extensive Muluozhai deposit (containing 0.45 million metric tons [Mt] at 4.0 wt % REE2O3) in the northern segment of the Mianning-Dechang belt, Sichuan (southwestern China), is characterized by a complex vein system that evolved within metamorphosed supracrustal rocks of the Yangxin and Mount Emei Formations. The mineralization is coeval with Oligocene intrusions of carbonatite and nordmarkite at ~27 Ma. The major gangue minerals include fluorite, barite (transitional to celestine), and calcite, with bastnäsite serving as the primary host for REEs in all analyzed orebodies. Several other accessory to minor minerals were identified in the ore veins, including some that had not previously been known to occur in the Muluozhai deposits (e.g., thorite and pyrochlore). The stable isotopic (C-O-Ca) and trace element compositions of calcite, along with whole-rock data, suggest that carbonate material was derived from the mantle and subsequently reequilibrated with the Yangxin marbles. The radiogenic isotope (Sr-Nd-Pb) compositions of vein material remained unaffected by wall-rock contamination and suggest a mantle source influenced by crustal recycling, consistent with other REE deposits hosted by carbonatite and nordmarkite in the region. The combined petrographic and geochemical evidence suggests derivation of Muluozhai mineralization from a carbonatitic source and interaction of carbonatite-derived fluids with wall rocks, xenoliths, and early-crystallizing mineral phases, particularly barite.