US rare earth-related stocks jumped on Monday after reports revealed a strategic plan by the Trump administration to secure the nation's supply of critical minerals. According to Bloomberg , the plan, dubbed "Project Vault,” aims to build a reserve for the private sector, based on a financing structure combining $1.67bn in private capital with a $10bn public loan via the US Export-Import Bank. The initiative seeks to reduce US dependence on China, which currently dominates the global rare earth supply chain.

From the opening bell, investors welcomed the news. MP Materials, the leading US rare earth producer, rose 6%, while USA Rare Earth and Critical Metals Corp advanced 15% and 10%, respectively. The project supports the idea of greater federal backing for the domestic mining industry, particularly for strategic sectors such as electric vehicles, military systems and advanced technologies.

USA Rare Earth is already said to be in talks with Howard Lutnick to offer the federal government its capabilities in rare earth mining and the manufacture of rare earth-based magnets, as part of a potential $1.6bn financing package. The plan is part of a broader strategy of public intervention. In the summer of 2025, the Department of Defense signed an unprecedented agreement with MP Materials that included an equity stake, a long-term purchase commitment and the setting of a price floor.