Shares of U.S.-listed rare earth miners climbed sharply on Thursday after China agreed to postpone new export restrictions as part of the recent agreement reached between President Donald Trump and Chinese President Xi Jinping in South Korea.
Critical Metals surged 7% in premarket trading, while USA Rare Earth gained around 5%. Energy Fuels advanced roughly 3%, and both MP Materials and NioCorp Developments were up about 2%.
The rally followed Trump’s announcement that the “rare earth issue has been settled”, describing his meeting with Xi as “amazing” and “productive.”
Under the terms of the broader deal, which also saw Washington halve tariffs on fentanyl-linked imports, Beijing will delay implementing its planned rare earth export controls by one year.
Speaking aboard Air Force One after leaving South Korea, Trump said the White House expects this one-year delay to become a regular extension going forward.
China’s earlier export curbs — first unveiled in April — will remain in place for now, but the additional restrictions scheduled for later this year will be postponed.
Beijing had threatened on October 9 to tighten oversight of rare earth exports and related technologies, citing concerns about “misuse” in military and other sensitive industries.
Rare earth elements — a group of 17 minerals with unique magnetic and conductive properties — are essential for the production of electric vehicles, wind turbines, robotics, and defence technologies.
China remains the dominant player in this sector, accounting for around 70% of global production and nearly 90% of processing capacity. This dominance has long worried U.S. policymakers, who see it as a strategic vulnerability amid efforts to build more secure and sustainable energy supply chains.
The agreement, while temporary, signals a rare moment of cooperation between Washington and Beijing in a field critical to both nations’ industrial and security ambitions.
