MP Materials’ goal to become a national rare-earths “champion” that can go toe-to-toe with China was turbocharged by Pentagon investment. But its journey there highlights the hurdles American producers face.

U.S. efforts to break China's dominance of the rare earths market and to drive investment in its own industry have moved up a gear with a Washington-backed plan to create a separate, higher pricing system.

As of 11:13 a.m. ET, shares of USA Rare Earth are up 25.4%. While USA Rare Earth didn't have anything to report today, one of its leading peers did. MP Materials announced a $500 million partnership with Apple that will see the companies collaborate on the production of recycled rare-earth magnets.

USA Rare Earth, Inc. USAR +23.5% + Free Alerts is another U.S.-based company involved in the mining, processing and supply of rare earth elements and other critical minerals. Founded in 2019 and headquartered in Stillwater, Oklahoma, USARE is working to develop a vertically integrated domestic supply chain for rare earth element magnet production.

USA Rare Earth is developing a rare earth magnet production facility in Oklahoma. Shares of USA Rare Earth soared last week, and they continue to do so today. Since it doesn't generate revenue, USA Rare Earth is a highly speculative investment.

Gracelin Baskaran of CSIS says Japan's push to develop deep sea rare earth mining manufacturing capabilities are crucially needed. She also discusses the various issues surrounding deep sea mining, such as maritime security and environmental concerns.

Wyoming's first new coal mine in 50 years is said to be operating soon but it won't rely on the fossil fuel to make money.