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CRML -11.17% IDR -12.22% UUUU -14.13%
The global race to secure rare earth supply might be on the verge of going to the next level.
What’s happening:
- The Chinese government has officially restricted the exportation of more rare earth elements to countries around the world
Why it matters:
- China is the single largest producer and exporter of rare earth elements, which have become increasingly important as material inputs for both technology hardware and military applications
Going deeper:
- China will immediately begin limiting the export of rare earth elements including samarium, gadolinium, terbium, scandium and others
- The search for new major rare earth discoveries in America been ramping up in the public markets lately, including Idaho Strategic Resources (NYSE: IDR) just expanding their exploration plans and Energy Fuels (NYSE: UUUU) and The Chemours Company (NYSE: CC) forming a strategic alliance focused on building out a more meaningful domestic supply of rare earth elements and critical minerals
The intrigue:
- The demand for new rare earth discoveries has also been finding its way into countries outside of North America, with Critical Metals (NASDAQ: CRML) just recently announcing their first ever Preliminary Economic Assessment of their Tanbreez project located in Greenland
