U.S. Rare-Earth Stocks Jump Amid Push for Domestic Supply

U.S.-listed companies tied to rare-earths saw share gains Monday as investors priced in potential government support and export restrictions.

Rare earth elements are critical for semiconductors, military systems and electric-vehicle motors, making control of supply chains a strategic priority.

Treasury Secretary Scott Bessent told CNBC that the Trump administration plans to set a price floor for rare earths to blunt market manipulation attributed to China, spurring renewed investor interest in miners and processors. Early-session movers included NioCorp (+9.3% at 9:45 a.m. NY), Energy Fuels (+3.8%), USA Rare Earth (+2.9%), Perpetua Resources (+3.4%) and MP Materials (+1.8%). Canadian names Lithium Americas and Trilogy Metals rose about 2.6% and 2.2%, respectively.

Policy actions are already in motion: the Defense Department reached a July agreement with MP Materials that included an equity stake, a price floor and an offtake commitment. Analysts expect additional support and potential government stakes in other firms—William Blair initiated coverage of USA Rare Earth with an outperform rating citing possible material government backing.

Industry executives warn that while heavy rare metals for military use may be adequate, shortages could constrain EVs, lasers and other commercial technologies. Beijing has tightened export controls, requiring approval and end-use disclosure for foreign shipments.