As China rare earth becomes a concern, what rare earth companies are in play?

USTR Greer said that China is taking actions as if it wants to decouple, noting that the U.S. will do more to strengthen its position in rare earths. He added that additional U.S. stakes in rare earth companies are possible, as Washington and its allies focus on reshoring critical supply chains. Greer’s remarks come amid a period of heightened U.S.-China trade tension, though both sides have so far refrained from further escalation. Markets continue to expect a gradual de-escalation over the coming days and weeks. Two days ago, Greer was more positive about finding a solution with China.So what companies have US support?MP Materials (NYSE: MP) -Trading at $92.88 premarketThe U.S. Department of Defense (DOD) is investing $400 million in preferred stock (making it the company’s largest shareholder). Back in 2022, MP has been awarded $35 million (and multiple contracts) by DoD to build heavy rare earth (HREE) processing capabilities at its Mountain Pass site. It has apublic-private partnershipwith DoD to build out a U.S. “mine-to-magnet” supply chain, including a second magnet manufacturing facility (the “10X Facility”). It has also received $58.5 million in U.S. government support to advance its magnet-making facility in Texas. The DoD has guaranteed aprice floor(for key elements like NdPr) under a long-term agreement. Ucore Rare Metals (TSXV: UCU / OTCQX: UURAF) – Trading at $7.49Ucore has secured a US$18.4 million funding agreementwith the DoD to build its RapidSX™ commercial-scale rare earth separation facility in Louisiana. That award is an expansion of an existing government-backed demonstration project (with earlier $4 million funding). Ucore’s project has been designated under DPAS (Defense Priorities & Allocation System), which gives it priority status for defense contracts. Critical Metals (CRML) – trading at $26.04 pre-marketWhile not directly a recipient of large government equity funding as of latest, Critical Metals signed a 10-year supply agreement to deliver heavy rare earth concentrate to U.S. government-funded processing plants (like Ucore’s facility). This places it in the U.S. strategic supply chain network, though its government support is more via offtake / supply contracts than large equity or capital infusions.The problem for investors is the companies have already run higher. MP is up 475% in 2025UURAF is up 1300%CRML is up 234%The cost of extracting rare earths is also high and earnings? What earnings?MP EPS in August came in at -$0.18% on revenues of $57.39M with market capitalization at $15.91BUURAF last EPS was -$0.03 with a market capitalization of $725.69MCRML last EPS released on Oct 6 came in at -$0.16 vs -$0.03. It has no revenues. Some other names in the space:Lynas Rare Earths (ASX / OTC: LYC) – Trading at $20.40
One of the few large non-Chinese players with real scale. It mines in Australia and has been developing separation capacity (including a U.S. facility) to reduce reliance on China’s processing. Energy Fuels (NYSEAMERICAN: UUUU / TSX: EFR) – Trades at CAD$35.05 on the Toronto Exchange
Not solely a rare earth play (also works in uranium), but is pushing into rare earth separation at its White Mesa mill. It’s part of the nascent rare earth push in North America. USA Rare Earth (USAR) – Trades at $34.10 pre-market
A more speculative name. It aims for mine-to-magnet integration, building domestic supply chains and magnet capacity in the U.S.
But it has yet to generate revenue profitably and remains a higher-risk, high-potential bet. All are very risky but rare earths is becoming the buzz word as concerns about disengagement puts the US at risk. We know that the Trump administration is ok with making deals with companies under the “National Security” concerns, and rare earths falls under that category.
This article was written by Greg Michalowski at investinglive.com.

🔗 Read Full Article