Reported about 23 hours ago
Shares of Australian rare earth miners experienced a significant rise following MP Materials' multi-billion dollar agreement with the U.S. government to enhance rare earth magnet production. Notable companies such as Lynas and Iluka witnessed sharp increases in their stock prices, driven by heightened market sentiment amidst recent Chinese restrictions on rare earth exports. This U.S. initiative signals a strategic push towards rare earth independence, promising potential earnings boosts for Australian firms like Lynas.
Source: YAHOO