USA Rare Earth CEO, Joshua Ballard, recently discussed the importance of critical minerals, the influence of the Trump administration on mining, and the company’s entry into the stock market.
In ongoing discussions between the United States and Ukraine regarding a potential agreement on rare earth minerals, President Donald Trump commented on Sunday that Ukraine might be reconsidering its involvement in the deal. Speaking aboard Air Force One, Trump expressed concerns that Ukrainian President Volodymyr Zelenskyy appeared to be withdrawing from the agreement, which he suggested could result in significant issues for Ukraine.
The proposed deal was expected to be mutually beneficial, potentially allowing the U.S. to recoup some of the substantial military aid it had provided to Ukraine since the Russian invasion in 2022. Ben Habib, the chair of the Great British Political Action Committee and a former co-deputy leader of Reform UK, emphasized the importance of the U.S. securing returns on its investments, suggesting the country is reasserting its global position.
Matt Miller, an analyst at CFRA Research, indicated that rare earth elements are crucial for manufacturing advanced military hardware such as jet engines, guided missiles, and radar systems. Presently, the majority of these elements are sourced from China, an adversarial nation.
While a failure to reach an agreement with Ukraine would not be disastrous for the U.S., other nations with significant resource deposits could serve as alternatives. Greenland, notable for its extensive reserves of rare earths and other minerals, presents one such option, although access challenges due to ice coverage and political disinterest complicate potential U.S. involvement.
The Democratic Republic of the Congo (DRC) has shown willingness to forge a mineral and security partnership with the U.S., as President Felix Tshisekedi reached out for a cooperative arrangement. The DRC, a leading producer of cobalt, faces ongoing conflict with a Rwandan-backed rebel group, intensifying since the late 1990s.
Globally, rare earth production remains concentrated in a few countries. China leads with a 70% share, mainly supplying materials for nuclear plant rods and aircraft engine alloys. The United States ranks second with 12%, used predominantly for the F-35 military jet production. Myanmar follows with 8%, focusing on heavy rare earths used in turbines and electric vehicles, an industry recently disrupted by a significant earthquake. Australia, positioned fourth, supplies nearly half of the world’s lithium, integral to rechargeable battery manufacturing.
Further mineral resources critical to various industries include cobalt from the DRC, primarily used in electric car batteries, with the country providing nearly 75% of global output. Indonesia dominates nickel production, essential for stainless steel and battery manufacturing.