Rare Earth Stocks Back in Spotlight
President Trump’s latest move in the U.S.-China trade standoff, a fiery Truth Social post threatening 100% tariffs on Chinese goods, rekindled interest in rare earth and critical mineral stocks. While the drama unfolded on Friday, the situation cooled somewhat over the weekend, with diplomatic channels re-opening and signals of moderation emerging.
But even with a slight easing, rare earth names remain under the spotlight: tensions are still elevated, and markets are bracing for renewed volatility.
Trump’s tariff threat was triggered by Beijing’s tightened export controls on rare earths, which sparked concerns about disruptions to the supply of the 17 strategically important metals used in electronics, EV motors, wind turbines, and defense systems. China, which dominates both mining and processing of these materials, recently instituted special licensing requirements for exporting certain minerals and magnet technologies.
Investors responded quickly, driving up shares in U.S.-based miners and processing firms — a replay of earlier rallies when trade disputes flared. Even as broader market indices dipped on tariff fears, rare earth and critical mineral stocks moved sharply higher amid bets that Washington would double down on building non-Chinese supply chains.
Rare earths are crucial to modern tech and defense, yet China still controls roughly 70% of global mining and nearly 90% of magnet production. Beijing’s recent export curbs, justified in part on national security grounds, underscore that dominance and have amplified calls in Washington to accelerate domestic sourcing.
Trump’s strong rhetoric only adds momentum to that push. He criticized the U.S. dependence on Chinese minerals as “surprising” and unacceptable, and his administration’s hardline stance has rattled markets — while simultaneously reigniting optimism around U.S. mining and processing projects viewed as critical to strategic resource independence.
Below are several U.S.-listed companies positioned to benefit from this renewed focus on rare earths and critical materials, spanning from established producers to smaller developers seeking to shore up America’s supply resilience.
MP Materials: America’s Rare Earth Anchor
MP Materials ($MP) operates the Mountain Pass mine in California, the only active rare earth mine in the U.S. and the Western Hemisphere’s main source of rare earth oxides. The company produces a concentrate rich in neodymium and praseodymium (NdPr), essential for EV motors and defense applications.
When China tightened export rules in October, MP’s shares jumped as investors anticipated higher magnet prices and renewed government backing for domestic production. The company has been working to close its biggest gap — dependence on China for processing — by building a full “mine-to-magnet” supply chain at home.
MP’s new magnet plant in Fort Worth, Texas, is set to begin supplying General Motors in 2025. The Pentagon recently strengthened its partnership with MP through a $400 million equity investment and a $150 million low-interest loan to expand heavy rare earth refining at Mountain Pass. The deal includes a decade-long offtake agreement to meet U.S. defense magnet needs.
Together, these projects could give the U.S. a rare earth magnet production capacity of around 10,000 tons per year by 2028, reducing reliance on China.
USA Rare Earth: “Mine-to-Magnet” Ambitions
USA Rare Earth ($USAR), which went public in March 2025, is positioning itself as a fully integrated rare earth producer in the United States. Its flagship Round Top deposit in Texas holds 15 of the 17 rare earth elements, including heavy metals like dysprosium and terbium that are crucial for defense and advanced electronics.
The company plans to process and manufacture domestically through a new 310,000-square-foot magnet plant in Stillwater, Oklahoma, and its recent acquisition of the UK-based alloy producer Less Common Metals adds expertise in magnet-ready materials. USAR aims to complete the first U.S. “mine-to-magnet” supply chain by 2026.
USAR’s stock has surged nearly 100% in recent weeks amid speculation of federal support following CEO Barbara Humpton’s remarks about coordination with the White House.
With Round Top’s broad resource base and early magnet production tests already completed, USA Rare Earth has emerged as a key speculative play on America’s drive to rebuild its critical mineral and magnet manufacturing capacity.
Other U.S. Rare Earth and Critical Mineral Plays
Beyond MP Materials and USA Rare Earth, several other U.S.-listed companies are gaining attention as Washington pushes to rebuild domestic supply chains for critical minerals.
Energy Fuels ($UUUU) has transformed from a uranium producer into a key rare earth processor. Its White Mesa Mill in Utah now refines monazite sands from the Southeast into rare earth oxides, including neodymium and praseodymium. In 2025, the company became the first in decades to produce separated heavy rare earths like dysprosium in the U.S., marking a major step toward domestic refining. Energy Fuels plans to scale up to commercial separation by 2026, positioning itself as a cornerstone of America’s non-Chinese rare earth supply chain.
Idaho Strategic Resources ($IDR), primarily a gold miner, has assembled one of the largest rare earth land packages in the U.S. Its exploration across the Idaho–Montana belt has uncovered high-grade surface samples, and the company is preparing for initial drilling. With steady gold revenue supporting exploration, $IDR offers a rare blend of cash flow and exposure to early-stage rare earth development.
NioCorp Developments ($NB) is advancing the Elk Creek project in Nebraska, focused on niobium, scandium, and rare earth elements. The Department of Defense recently granted $10 million to refine its production process, highlighting Elk Creek’s strategic value for defense and advanced manufacturing. NioCorp is also in talks with automakers to supply its rare earth output, potentially linking the project directly to U.S. EV supply chains.
United States Antimony ($UAMY) has drawn renewed attention as antimony prices surged following China’s export restrictions. The company operates a smelter in Montana and recently secured a $245 million Defense Logistics Agency contract to supply antimony for the national stockpile. With new funding to expand capacity, $UAMY is emerging as America’s key domestic antimony supplier.
Perpetua Resources ($PPTA) is developing the Stibnite Gold Project in Idaho, which will produce both gold and antimony—the only mined source of the metal in the U.S. The Department of Defense has provided more than $80 million in funding, and construction approvals are now in place. Once operational, Stibnite could supply up to one-third of America’s annual antimony demand, a significant milestone for U.S. resource independence.
American Resources ($AREC) is pursuing a recycling-driven approach through its ReElement Technologies unit, which extracts rare earths and battery metals from e-waste and end-of-life magnets. Its Indiana facility produces high-purity oxides and recently partnered with South Korea’s POSCO for magnet-grade supply. $AREC’s “urban mining” model offers a faster, lower-impact path to sourcing critical materials domestically.
The Metals Company ($TMC) is targeting deep-sea polymetallic nodules in the Pacific that contain nickel, cobalt, and copper—key inputs for EV batteries. While not a direct rare earth play, $TMC reflects the growing global race to diversify critical mineral sources beyond land-based mining.
Ero Copper ($ERO) and Trilogy Metals ($TMQ) also fit this broader narrative. Both produce or plan to produce copper and cobalt, essential for electrification and defense applications. $TMQ recently received a $35 million Department of Defense investment to advance its Alaska project, underscoring Washington’s expanding involvement across the critical minerals sector.
The renewed tariff fight between the United States and China has sparked a new wave of interest in America’s critical minerals sector. As Beijing tightens export rules on rare earths and other strategic materials, attention has shifted once again to how dependent Western economies remain on Chinese supply.
Bottom Line
For investors, the trend is clear: companies helping to strengthen domestic production of these resources are back in focus. At the same time, developing new mines, refineries, or magnet plants is a slow and costly process, and many projects are still years away from delivering results.
The policy environment, however, is increasingly favorable. Washington is providing funding, speeding up permits, and securing long-term supply deals to reduce reliance on China. President Trump’s firm stance toward Beijing, tying U.S. national security to winning the minerals race, reinforces that direction.
This article is for informational purposes only and is not investment advice or a solicitation to buy or sell securities. The content is based on publicly available information and reflects the author’s opinions as of the publication date, which may change without notice. All investments carry inherent risks, including the potential loss of principal, and past performance is not indicative of future results. Readers should conduct their own research or consult a financial advisor before making investment decisions. BBAE holds no position in the securities mentioned, nor are they compensated by the companies mentioned.
