MP Materials Corp (MP)

[iHub News]

Rare earths rally as Trump moves toward $12 billion strategic minerals reserve

February 2, 2026 8:36 AM
IH Market News

Shares of rare earth and critical minerals producers jumped after reports that President Donald Trump is preparing a $12 billion plan to build a strategic stockpile of key minerals, aimed at cutting U.S. reliance on Chinese supply chains.

USA Rare Earth rose 6.5%, while United States Antimony (AMEX:UAMY) advanced 7% and Critical Metals (NASDAQ:CRML) climbed 8% following news of the proposal, known as “Project Vault.” MP Materials (NYSE:MP), the largest U.S. producer of rare earths, gained 5.5%. Elsewhere, Ramaco Resources (NASDAQ:METC) added 2%, Trilogy Metals (AMEX:TMQ) increased 4%, and TMC the metals company (NASDAQ:TMC) jumped 6%.

According to Bloomberg News, which cited senior administration officials speaking on condition of anonymity as the plan has yet to be formally announced, the initiative would pair $1.67 billion of private-sector funding with a $10 billion loan from the U.S. Export-Import Bank. The capital would be used to purchase and store critical minerals for use by American manufacturers.

Modeled in part on the Strategic Petroleum Reserve, Project Vault would focus on accumulating materials such as gallium and cobalt, which are vital inputs for products ranging from smartphones and batteries to jet engines and other advanced technologies. The goal is to shield U.S. industry from supply disruptions and sharp price swings.

The proposal underscores Trump’s broader push to reduce U.S. dependence on China, which currently dominates global mining and processing of rare earth elements and other critical minerals essential to the automotive, aerospace and energy industries.

United States Antimony Corporation stock price

Critical Metals stock price

MP Materials stock price

Ramaco Resources stock price

Trilogy Metals stock priceTMC stock price

Original: Rare earths rally as Trump moves toward $12 billion strategic minerals reserve