South Africa Set to Open First Underground Gold Mine in 15 Years
West Wits Mining Ltd. plans to start production next year at Qala Shallows on the western fringe of Johannesburg, a city founded during the gold rush that followed the discovery of the Witwatersrand reef in the 1880s. The Australia-listed company will mine ore during the three-year construction period to take advantage of sky-high bullion prices.
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From Defense to Dollars: The Government's Play to Rebuild the Domestic Rare Earths Supply Chain
(NYSE:MP) said it has entered a public-private partnership with the U.S. Department of Defense to shore up critically-important American rare earth supplies. Las Vegas based MP operates the only fully integrated rare earth mining and processing facility in the country. California's Mountain Pass mine is the second largest rare earth mine in the world, bought when MP was founded in 2017. DoD agreed to buy $400 million in new preferred shares, convertible into common stock, and will receive a warrant allowing more purchases. MP will get $1 billion in financing for the costs of constructing and developing its second domestic magnet plant. The flagship Independence magnet facility in Fort Worth, Texas came online in January. Don't Miss: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — The ECG Hasn't Changed in 100 Years — China controls the world supply of heavy rare earths – dysprosium and terbium, and light rare earths – neodymium and praseodymium. These materials are used in military defense systems, consumer electronics and alternative energy technologies. The U.S. relies almost 100% on foreign sources for processed rare earth materials that make high tech magnets. According to the Atlantic Council, China now controls over half of global rare earth mining production and 90% of separation and refining capacity. Experts view this as a security threat, drawing the attention of the White House. "This initiative marks a decisive action by the Trump administration to accelerate American supply chain independence," said MP Materials CEO James Litinsky. "We are proud to enter into this transformational public-private partnership and are deeply grateful to President Trump, our partners at the Pentagon, and our employees, customers and stakeholders for their unwavering support and dedication." Trending: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can MP extracts and purifies rare earth to manufacture strong and highly efficient magnets for military and commercial use. It estimates the new "10X Facility" will begin taking orders in 2028, when it hopes to reach an estimated 10,000 metric tons of magnet manufacturing capacity. It will also expand separation operations at the Mountain Pass site, where materials are extracted, separated and refined in one secure location. DoD has established a 10-year $110 per kilogram price floor for MP Materials magnetic products stockpiled or sold and will share profits, according to the press release. It has also guaranteed that 100% of magnets produced at the 10X Facility will be purchased by defense and commercial customers. DoD may now be MP's largest shareholder, representing about 15% of all shares prior to the investors jumped on the July 10 announcement, lifting MP stock more than 250%, as of Aug. 10. The company priced 11.8 million new shares at $55 on July 17, yielding about $650 million to fund the DoD deal. Sector rivals have also rallied, with Ramaco Resources (NASDAQ:METC) touching an all-time high after CEO Randall Atkins told CNBC about "back-channel discussions" with the DoD. (NASDAQ:AAPL) jumped to the front of the MP queue after committing $500 million on July 15. The tech icon will partner to expand MP's Texas facility, designing a series of neodymium magnet manufacturing lines specifically designed for Apple products. Apple has also agreed to a $200 million prepayment for the purchase of magnets used in iPhone and iPad production. Read Next: In a $34 Trillion Debt Era, The Right AI Could Be Your Financial Advantage — Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article From Defense to Dollars: The Government's Play to Rebuild the Domestic Rare Earths Supply Chain originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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an hour ago
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IREN Ltd. (IREN) Jumps as Investors Optimistic Ahead of Earnings
We recently published . IREN Ltd. (NASDAQ:IREN) is one of Wednesday's best performers. IREN Ltd. grew its share prices by 5.5 percent on Wednesday to finish at $19.76 apiece as investors repositioned portfolios ahead of the release of its earnings performance for the full fiscal period of 2025. According to the company, it is scheduled to report its financial and operating highlights after market close on August 28, a Thursday, alongside an investor call to elaborate on the results. Among the highlights to be watched out for include its outlook for the next fiscal period, having achieved its operating hash rate target of 50 EH/s in June this year which was expected to help bolster revenues from Bitcoin mining moving forward. In a statement earlier, IREN Ltd. (NASDAQ:IREN) said a 50 EH/s operating hash rate could help generate some $830 million in annualized hardware profit. Last month, IREN Ltd. (NASDAQ:IREN) announced a higher Bitcoin production of 728 units that successfully raked in $83.6 million in revenues. The total figure marked a 27.6 percent increase from the $65.5 million in revenues from 620 Bitcoins mined in June. Additionally, IREN Ltd. (NASDAQ:IREN) benefitted from an 8.66-percent higher Bitcoin price last month, at t $114,891 versus the $105,730 in June. While we acknowledge the potential of IREN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
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Why USA Rare Earth Stock Stock Crashed This Week
Key Points USA Rare Earth stock returned the gains it secured last week. News out of China is just one of the recent news developments that has investors scared. Since nothing has materially changed for USA Rare Earth, current shareholders should try to ride out the current volatility. 10 stocks we like better than USA Rare Earth › Giving back all of its 5.7% gain from last week, shares of USA Rare Earth (NASDAQ: USAR) have been in free fall this week. Several news events out of the rare-earth-mining industry have investors feeling less than bullish on the stock's prospects. According to data provided by S&P Global Market Intelligence, shares of the metals stock have plunged 18% from the end of last Friday's trading session through 12:25 p.m. ET on Thursday. News from around the world has investors feeling woeful The week began on an inauspicious note when investors learned that rare-earth exports out of China have ramped up this summer. According to Bloomberg, the export volume of Chinese rare-earth products rose 69% from June to July. With rare earth products at the core of trade tensions between the U.S. and China, investors are hyperfocused on news that the world's leading rare-earth producer has escalated its exports of the prized critical minerals. Tuesday didn't provide much relief. Reuters reported that Vulcan Elements, a producer of rare-earth magnets, recently signed a supply deal with ReElement for rare-earth oxides. USA Rare Earth recognizes the commencement of operations next year at its rare-earth-magnet production facility as a major catalyst. Investors are likely fretful about the company's prospects if peers are inking rare-earth-magnet deals while USA Rare Earth isn't enjoying the same interest. Yet another factor behind the stock's tumble this week is news from rare-earth peer Critical Metals (NASDAQ: CRML), which reported favorable drilling results from a project in Greenland. Besides magnet production, USA Rare Earth is also focused on mining at its resource in Texas. With the promising results that Critical Metals reported for its Greenland asset, investors may be finding USA Rare Earth less appealing. What's an investor to do now? Because USA Rare Earth is a highly speculative investment, the volatility this week is unsurprising. Current shareholders should simply sit tight at this point, since nothing materially has changed for the company. Should you invest $1,000 in USA Rare Earth right now? Before you buy stock in USA Rare Earth, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and USA Rare Earth wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $654,624!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,075,117!* Now, it's worth noting Stock Advisor's total average return is 1,052% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 18, 2025 Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why USA Rare Earth Stock Stock Crashed This Week was originally published by The Motley Fool
