U.S. mining stocks are rallying again on Tuesday, October 14, following President Donald Trump’s reassurance that “it will all be fine” just days after threatening higher tariffs on China.
With gold and silver likewise hitting new all-time highs (ATH), now might be the perfect time to capitalize on the precious metals and rare earths momentum.
The top industry gainer today is Mp Materials (NYSE: MP), the biggest strategic metal producer in North America, up 21.34% over the past 24 hours and an additional 8.89% in pre-market.
Energy Fuels (NYSE: UUUU), a mining company focused on uranium and critical minerals, is close behind, having closed 16.86% higher and currently sitting 13.63% up in before-hours trading.
Finally, Coeur Mining (NYSE: CDE), a precious metal producer with a presence in the United States, Canada, and Mexico, has climbed 8.28% on the daily chart, although it is down 0.80% in the pre-opening session.
JP Morgan to bolster the U.S. mining industry
While Trump’s spat with China over rare earths has undoubtedly pushed the stocks upward, future growth is not entirely dependent on the ongoing trade war.
On October 13, JPMorgan Chase announced a $10 billion investment initiative focused on U.S. national security industries, including strategic mineral producers, with the goal of bolstering America’s economic and technological resilience.
“It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing – all of which are essential for our national security,” wrote JP Morgan Chairman and CEO Jamie Dimon.
The investments will target not only supply chain and advanced manufacturing in essential resources but also robotics, defense, and aerospace, with a focus on battery storage and grid resilience.
Looking ahead, the bank plans to provide around $1 trillion over the next decade to support companies in these sectors, with potentially another $500 million through additional resources.
MP Materials, for instance, has already benefited from such policies, having secured a $1 billion loan from JPMorgan and Goldman Sachs to construct a new rare earth magnet facility.
New partnerships will therefore likely further highlight the nation’s efforts toward resource independence and supply chain strength, potentially benefiting the stocks singled out above.
Featured image via Shutterstock
