Europe Asia News

Shares of Critical Metals, one of the leading companies in the rare earth market, have risen by 241% over the past three months, while NioCorp Developments, Energy Fuels, and Idaho Strategic Resources have each gained more than 100% in the same period.

The “dazzling” market rally has become even more remarkable since the start of the year. Energy Fuels’ stock price has quadrupled in the first ten months of the year, while NioCorp Developments’ shares have nearly quintupled.

Rare earth elements have emerged as a key bargaining chip in the ongoing geopolitical rivalry between the world’s two largest economies — the United States and China.

Tony Sage, CEO of Critical Metals, which owns one of the world’s largest rare earth deposits in southern Greenland, described the surge in U.S.-listed mining stocks as evidence of a major market boom.

Rare earth elements refer to 17 elements on the periodic table that possess a unique atomic structure giving them special magnetic properties. These materials are vital components of modern technologies, from smartphones and electric vehicles to military equipment.

China, which holds an almost monopolistic position in the rare earth market, has threatened to expand export controls to further strengthen its dominance over the supply chain. However, following a face-to-face meeting on Thursday in South Korea between U.S. President Donald Trump and Chinese leader Xi Jinping, Beijing agreed to delay the export controls announced on October 9 by one year.

After the news, U.S.-listed rare earth mining stocks rose, but analysts remain skeptical about whether the apparent “trade truce” will provide lasting relief.