Rare earth stocks rip on government deal
Companies linked to critical magnetic materials known as rare earths soared on Thursday after the US government announced plans to take a large stake in small-cap MP Materials, the operator of the only rare earths mine in the US.
USA Rare Earth, a US supplier of rare earths and rare earth magnets, also rose sharply. Microcap Rare Element Resources also gained.
China dominates the production and processing of rare earth minerals, which are crucial for both defense industries and “green” technologies like electric vehicles and windmills. Access to the materials has become a contentious point of ongoing trade negotiations between the Trump administration and Beijing.
Go Deeper: Why China’s metals embargo could be good news for USA Rare Earth
China dominates the production and processing of rare earth minerals, which are crucial for both defense industries and “green” technologies like electric vehicles and windmills. Access to the materials has become a contentious point of ongoing trade negotiations between the Trump administration and Beijing.
Go Deeper: Why China’s metals embargo could be good news for USA Rare Earth
