Rare earths stocks surge after China tightens grip on global supplies

Shares of U.S. rare earth and critical mineral miners surged Thursday after China tightened restrictions on exports, fueling market speculation that the Trump administration will move more aggressively to invest in building out a domestic supply chain.

Ramaco Resources soared more than 11%, Energy Fuels surged over 12%, USA Rare Earth jumped more than 16%, NioCorp Developments rallied 14%, and MP Materials advanced over 6%. Albemarle popped 7%, Trilogy Metals rose over 4%, and Lithium Americas was up about 2%.

Beijing is now requiring foreign entities to obtain a license to export products that contain rare earths worth 0.1% or more of the goods’ value, according to China’s Ministry of Commerce. Companies will also need export licenses if they use China’s extraction, refining or magnet recycling technology.

“The White House and relevant agencies are closely assessing any impact from the new rules, which were announced without any notice and imposed in an apparent effort to exert control over the entire world’s technology supply chains,” an administration official told CNBC.

China imposed the restrictions ahead of an expected meeting between President Xi Jinping and President Donald Trump on the sidelines of the Asia-Pacific Economic Cooperation summit in Seoul, South Korea, later this month.

Rare earths have been a major point of contention in trade talks between Beijing and Washington. Beijing dominates the global rare-earth supply chain and the U.S. is dependent on imports from China.