US Rare Earths Stocks Jump on Bets Government Will Keep Buying
Bags of rare earth concentrates for transport at an MP Materials mine in Mountain Pass, California.
Photographer: Joe Buglewicz/BloombergThe rally in shares of US miners of rare-earth materials got a boost Thursday after a China curb on exports of the minerals fueled bets that the American industry will benefit — and potentially spur additional investments from the federal government.
MP Materials Corp. shares soared almost 10%, USA Rare Earth Inc. jumped more than 15% and Ramaco Resources Inc. climbed 12%. All three have been rallying since early July, when the US government agreed to take a stake in MP Materials. USA Rare Earth and Ramaco have tripled since then.