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Stock impact report

Trump administration to create a strategic reserve for rare earth elements [BNN Bloomberg (Canada)]

MP Materials Corp. (MP) 
Company Research Source: BNN Bloomberg
The White House confirmed on Monday the start of “Project Vault,” which would initially be funded by a US$10 billion loan from the U.S. Export-Import Bank and nearly US$1.67 billion in private capital. The minerals kept in the reserve would help to shield the manufacturers of autos, electronics and other goods from any supply chain disruptions. During trade talks last year spurred by President Donald Trump's tariffs, the Chinese government restricted the exporting of rare earths that are needed for jet engines, radar systems, electric vehicles, laptops and phones. China represents about 70 per cent of the world's rare earths mining and 90 per cent of global rare earths processing. That gave it a chokehold on the sector that has caused the U.S. to nurture alternative sources of the elements, creating a stockpile similar to the national reserve for petroleum. The strategic reserve is expected to be the highlight of a ministerial meeting on critical minerals that Secretary of Stat Show less Read more
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