MW These stocks are getting a boost from latest twist in Trump's bold plan to tap mineral wealth

By James Rogers

President Donald Trump, fresh from his clash with President Volodymyr Zelensky of Ukraine, is eyeing America's mineral wealth

President Donald Trump vowed to boost U.S. production of critical minerals and rare earths during his address to a joint session of Congress late Tuesday, continuing his administration's push to tap into mineral wealth.

Trump's speech to Congress came just days after an extraordinary White House clash with Ukrainian President Volodymyr Zelensky. The presidents met in the Oval Office Friday in a meeting that was supposed to be the precursor to a deal that would include U.S. access to the war-torn nation's valuable natural resources. However, Zelensky left the White House with the deal unsigned after clashing with Trump and Vice President J.D. Vance in front of the world's media.

In his address to Congress, Trump briefly shifted the focus onto U.S. rare earths. Later this week he will take "historic action to dramatically expand production of critical minerals and rare earths here in the USA," the president said, according to a speech transcript.

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A number of stocks are moving on Trump's rare earths plan. Shares of Fort Worth, Texas-based rare-earth specialist MP Materials Corp. (MP) are up 7.8% in premarket trades, while mining development and Denver-based critical-minerals company Energy Fuels Inc. (UUUU), is up 3.7%. Shares of NioCorp Developments Ltd. (NB), which is developing a critical-minerals project in Southeast Nebraska, are up 4.9%.

Aluminum maker Alcoa Corp.'s $(AA)$ stock is also up 2.8% premarket. In 2021 the company entered into a partnership with Alumtek Minerals and ChemCentre to extract critical minerals and rare earths from bauxite residue.

During his address Trump also discussed Ukraine, saying that he had received an "important letter" from Zelensky Tuesday. The letter said that Ukraine is ready to sign the agreement on minerals and security "at any time that is convenient for you," according to Trump. This echoed a post on X, formerly Twitter, from Zelensky Tuesday.

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"I appreciate that he sent this letter," Trump said. "Simultaneously, we've had serious discussions with Russia and have received strong signals that they are ready for peace."

In a note released before Trump's address, LMA Consulting Group, which specializes in manufacturing and supply chain strategy, said the U.S. must secure stable and diversified sources of rare earth minerals to protect supply chains and maintain global competitiveness. "Supply chains don't exist without rare earth minerals - without them, there are no semiconductors, no AI, no clean energy solutions, and no advanced defense systems," said LMA Consulting Group President Lisa Anderson.

During his address to Congress Trump said that his administration is also working on a natural-gas pipeline in Alaska, which he said is among the largest in the world. "Japan, South Korea and other nations want to be our partner with investments of trillions of dollars each," he said. "It's never been anything like that one. It will be truly spectacular. It's all set to go."

-James Rogers

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March 05, 2025 08:35 ET (13:35 GMT)

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