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About 90% of the U.S.'s rare earth minerals come from China, the world's largest producer of rare earths, according to data from the Geological Survey.

Additionally, the U.S. passed the Critical Minerals Security Act of 2025, requiring reports on critical mineral and rare earth elements resources globally to secure the U.S. rare earth supply chain.

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And while companies like USA Rare Earth will eventually help lessen U.S. dependence on China, Ballard said that's still a long way off. "It's a long term proposition," Ballard said.

The first rare earth stock we’ll look at here is MP Materials, a Nevada-based rare earths company that operates on every level of the industry, from mining to metallization to manufacturing ...