On Wednesday, rare earth concept stocks in the US market rose across the board, with NioCorp Developments Ltd. (NB.US) surging over 10%, Energy Fuels (UUUU.US) climbing more than 7%, and American Resources (AREC.US) gaining over 6%.
On the news front, the US government has reportedly been considering establishing a $5 billion mining investment fund. If confirmed, this would represent a significant attempt by the US government to directly participate in large-scale mining transactions and marks the latest sign of America's efforts to address its vulnerability regarding dependence on foreign supply of critical minerals. The Trump administration has prioritized securing critical mineral supply, including materials such as copper, cobalt, and rare earth elements.