24H | Rare Earth Stocks Shine. USA Rare Earth up 4.5%; The Metals, MP Materials, Energy Fuels up More Than 2%
Rare earth stocks shined in overnight trading. USA Rare Earth up 4.5%; The Metals Company, Energy Fuels, NioCorp Developments Ltd., MP Materials up more than 2%.
The U.S. Department of Defense, headed by Defense Secretary Pete Hegseth, acquired a 15% position in the MP Materials mine, located adjacent to Interstate 15 in southeast California, making it the largest single shareholder in this critical national resource. MP Materials common stock spiked 54% on July 10 following the announcement.
It has been well reported that rare earths are crucial to the wind, solar, battery, and electric vehicles industries. Less reported until recently is the fact that rare earth metals are critical elements for making high-grade magnets that go into every modern military weapons system, jets, and ships.
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