Not sure if this is already posted.
If so, apologies:
ILU Add to My Watchlist
ASX News Metals & Mining Steel Industrial Metals & Minerals Basic Materials
2 hours ago
https://media.hotcrapper.com.au/authors/V1-Jonathon.jpg
Jonathon Davidson
The Market Online, Australia
https://media.hotcrapper.com.au/embed/ba8vuv4war842bk6gfgphk6wby/1/largeAdobe Stock
Iluka Resources (ASX:ILU) was the beneficiary of momentum driven by a decision from the US Pentagon overnight to buy a 15% stake in a listed REE smallcap in Las Vegas.
Listen to the hotcrapper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The company that the U.S. Government (or Trump, for all intents and purposes) bought a stake in doesn’t matter. It’s ultimately a show of support from the White House (or Pentagon, depending on who you listen to) to actively participate in the mission to secure domestic supply chain security.
And that, in turn, has Australians bullish we could soon see a similar type of move from Canberra. Or at least, some are thinking that.
https://media.hotcrapper.com.au/embed/bghipon9j9uw2cnjvjrduzmexu/1/largeIluka’s 1Y returns as a line chart. Source: Market Index
At the same time, the rare earth metal molybdenum shot up overnight, in part driven by the news. London Metal Exchange (LME) futures for the tech metal jumped +16.7% in one session (though, after a dip in late June, that brings monthly growth in the price to a more modest +6.4%).
We aren’t seeing the same thing for neodymium, though, which is often the best-known rare earth element (REE), and particularly highlighted for its role in wind turbines and other renewable technologies.
That’s because the U.S. is a major producer of molybdenum, one of the few rare earth elements with which it can boast that claim.
China remains dominant, but the U.S. holds a significant global share.
Typically, the metal is a byproduct of porphyry copper mining, but the company the U.S. has invested $600 million in – MP Materials – is a straight rare earth miner.
If so, apologies:
https://hotcrapper.com.au/news/asx-...e-as-pentagon-buys-big-stake-in-us-ree-miner/
Rare earths stocks surge as Pentagon buys big stake in US REE miner
ILU Add to My Watchlist
ASX News Metals & Mining Steel Industrial Metals & Minerals Basic Materials
2 hours ago
https://media.hotcrapper.com.au/authors/V1-Jonathon.jpg
Jonathon Davidson
The Market Online, Australia
https://media.hotcrapper.com.au/embed/ba8vuv4war842bk6gfgphk6wby/1/largeAdobe Stock
Iluka Resources (ASX:ILU) was the beneficiary of momentum driven by a decision from the US Pentagon overnight to buy a 15% stake in a listed REE smallcap in Las Vegas.
Listen to the hotcrapper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The company that the U.S. Government (or Trump, for all intents and purposes) bought a stake in doesn’t matter. It’s ultimately a show of support from the White House (or Pentagon, depending on who you listen to) to actively participate in the mission to secure domestic supply chain security.
And that, in turn, has Australians bullish we could soon see a similar type of move from Canberra. Or at least, some are thinking that.
https://media.hotcrapper.com.au/embed/bghipon9j9uw2cnjvjrduzmexu/1/largeIluka’s 1Y returns as a line chart. Source: Market Index
At the same time, the rare earth metal molybdenum shot up overnight, in part driven by the news. London Metal Exchange (LME) futures for the tech metal jumped +16.7% in one session (though, after a dip in late June, that brings monthly growth in the price to a more modest +6.4%).
We aren’t seeing the same thing for neodymium, though, which is often the best-known rare earth element (REE), and particularly highlighted for its role in wind turbines and other renewable technologies.
That’s because the U.S. is a major producer of molybdenum, one of the few rare earth elements with which it can boast that claim.
China remains dominant, but the U.S. holds a significant global share.
Typically, the metal is a byproduct of porphyry copper mining, but the company the U.S. has invested $600 million in – MP Materials – is a straight rare earth miner.
