Rare earth miners jump as Trump is reportedly eyeing mineral stockpile to reduce China dependence

Shares of U.S.-listed rare earth miners jumped Monday after news that President Donald Trump is preparing a sweeping plan to build a strategic stockpile of critical minerals.

The proposal, known as Project Vault, would launch a first-of-its-kind strategic critical-minerals stockpile designed for the U.S. private sector, according to Bloomberg news, which cited senior administration officials familiar with the matter. The plan pairs $1.67 billion in private capital with a $10 billion loan from the U.S. Export-Import Bank, the outlet said. Trump’s move is aimed at cutting America’s dependence on China for materials essential to electric vehicles, defense systems and advanced technology.

MP Materials

, the operator of the Mountain Pass mine in California, surged 4% in early trading Monday. USA Rare Earth

and Critical Metals Corp