U.S. plans more stakes in critical minerals companies, Trump official says

 The Trump administration plans to take more equity positions in critical minerals companies, a White House official said Thursday, calling the once-rare move necessary to counter China's dominance in the raw materials, Bloomberg reported.

"We're literally buying equity, getting equity in companies to give the backing of the U.S., because that's the only way we're going to catch up with China on these things," Jarrod Agen, executive director of the National Energy Dominance Council, said at the American Growth Summit in Washington, according to Bloomberg.

The Trump administration has spent more than $1 billion over the past year to take stakes in critical minerals and mining companies, including MP Materials (MP) and Lithium Americas (LAC), often sending the company’s stock prices soaring.

Several potentially relevant companies racked up strong gains on Thursday, including USA Rare Earth (USAR) +24.6%, Critical Metals (CRML) +20%, Oklo (OKLO) +15.6%, Westwater Resources (WWR) +15.5%, United States Antimony (UAMY) +15%, Eos energy Enterprises (EOSE) +15%, NioCorp Developments (NB) +14%, Nuscale Power (SMR) +13.4%, American Battery Technology (ABAT) +11.7%, Uranium Energy (UEC) +9.5%, Northern Dynasty Minerals (NAK) +8.3%, Energy Fuels (UUUU) +8.1%, Nano Nuclear Energy (NNE) +7.9%, Ramaco Resources (METC) +7.8%, Cameco (CCJ) +5.2%, Denison Mines (DNN) +5.2%, Perpetua Resources (PPTA) +3.8%, Nouveau Monde Graphite (NMG) +3.8%, Trilogy Metals (TMQ) +3.7%, TMC the metals company (TMC) +1%.

ETFs: (XME), (REMX), (SETM), (LIT), (LITP), (BATT), (COPP), (NLR), (URA), (URNM)

https://www.msn.com/en-us/money/markets/us-plans-more-stakes-in-critical-minerals-companies-trump-official-says/ar-AA1RK3WY