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The order comes as the administration has ramped up efforts to break China's stranglehold on the mining and processing of rare earths needed for defense and autos.
America's rare earths problem is often framed as a mining problem.
Family offices poured more than $3 billion into tech, media, and telecom companies. But materials attracted the most capital—$4.8 billion.
Japan Prime Minister Sanae Takaichi is set to hold talks in Canberra on Monday with Australian counterpart Anthony Albanese, at which energy security and rare earths cooperation are likely to be high on the agenda.
ISM shows strongest expansion since 2022 — but inflation is a big problem
Governments around the world are treating metals and minerals as strategic assets, and that shift is creating a structural demand floor that did not exist a decade ago.
The iShares MSCI Global Metals & Mining Producers ETF (PICK) faces short-term headwinds from inflation and geopolitical conflict, particularly the Iran situation. PICK's portfolio is concentrated in mega-cap diversified miners and steel/copper names, with economic risk tied to global construction and China-driven demand. Valuations for PICK's top holdings are fair and supported by strong quant ratings, but cyclical risks and high volatility warrant caution.
The iShares MSCI Global Metals & Mining Producers ETF ( NYSEARCA:PICK ) has surged 66% over the past year, climbing from roughly $35 to $58 per share.
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Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.