Lynas Rare Earths Ltd's stock plummeted 11.30% during intraday trading on Thursday, marking a significant decline for the Australian rare earths miner.

The sharp drop comes as the Trump administration is retreating from plans to guarantee minimum prices for U.S. critical minerals projects, acknowledging funding shortfalls and complexities of setting market benchmarks. This policy shift has negatively impacted the entire Australian rare earth mining sector, with Lynas being one of the most affected companies.