USA Rare Earth and other critical minerals companies gained after President Donald Trump reiterated calls for the United States to take control of Greenland.
President Trump made the statements during a NATO summit.
The statements renewed investor focus on Greenland's significant undeveloped rare earth deposits.
These deposits are crucial for defense, AI infrastructure, and electric vehicles.
This geopolitical development highlights the strategic importance of companies like USA Rare Earth.
USA Rare Earth builds an integrated domestic supply chain for rare earth magnets.
A broader group of stocks related to Greenland's resources also experienced gains.
This group included Critical Metals Corp. and Energy Fuels.
Their gains ranged from 0.4% to 2%.