U.S.-listed rare earth stocks jumped on Tuesday after President Donald Trump announced plans to create a strategic reserve for critical minerals.
In early trading, Critical Metals climbed more than 10%, USA Rare Earth gained nearly 11%, and MP Materials added around 4%. Energy Fuels rose about 8%, while Idaho Strategic Resources was up over 3% and NioCorp Developments surged close to 10%.
The rally followed Trump’s remarks on Monday, when he shared new details about “Project Vault”—a proposed strategic minerals stockpile aimed at supporting the U.S. private sector. According to Trump, the initiative would combine nearly $2 billion in private investment with a $10 billion loan backed by the U.S. Export-Import Bank.
Trump said the goal is to protect American businesses and workers from supply disruptions, comparing the idea to the Strategic Petroleum Reserve and existing mineral stockpiles used for national defense—only this time focused on supporting domestic industry.
Rare earths have become increasingly important in the larger U.S.-China economic rivalry, as they are essential to modern manufacturing and advanced technology. China currently dominates the supply chain, accounting for roughly 60% of global rare earth mining and more than 90% of rare earth magnet production.
Rare earth elements include 17 materials used heavily across industries—from smartphones and consumer electronics to electric vehicles and military equipment—mainly because of their unique magnetic properties.
Wade Senti, president of Florida-based magnet maker Advanced Magnet Lab, said it’s encouraging to see the U.S. taking stronger steps to secure critical minerals. However, he emphasized that the bigger long-term priority is expanding America’s ability to turn those minerals into permanent magnets, which power next-generation technologies like EVs and humanoid robots. He also noted that advances in magnet technology could reduce reliance on any single material, such as neodymium, giving the U.S. more flexibility and resilience in the supply chain.
