economy
February 2, 2026
Rare earth miners jump as Trump is eyeing mineral stockpile to reduce China dependence
Trump's move is aimed at cutting America's dependence on China for materials essential to electric vehicles, defense systems and advanced technology.
TL;DR
- U.S. rare earth miner stocks increased following news of a planned strategic critical minerals stockpile.
- The initiative, Project Vault, is designed to create a U.S. private sector strategic critical minerals stockpile.
- The plan involves $1.67 billion in private capital and a $10 billion loan from the U.S. Export-Import Bank.
- The goal is to decrease U.S. reliance on China for materials critical to electric vehicles, defense, and technology.
- MP Materials, USA Rare Earth, and Critical Metals Corp. saw stock price increases.
- USA Rare Earth has discussed its domestic mining and magnet assets with Commerce Secretary Howard Lutnick, potentially leading to a $1.6 billion funding deal with a U.S. government equity stake.
- This builds on previous government involvement, including a Department of Defense agreement with MP Materials.
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