NAK - Rare-earth metal producer up on Trump move to expand domestic production

In a bid to reduce dependence on China, President Donald Trump signed an executive order aimed at expanding domestic production of rare-earth minerals that are vital to many critical manufacturing sectors.The order, which declares a national emergency in the mining industry, directs the Interior Department to explore using the Defense Production Act to hasten the development of mines.The order also states the Interior and Energy Departments should encourage the development and reuse of old coal waste areas, material on old mining sites, as well as abandoned mining sites for recovery of the critical minerals.Separately, the European Commission vowed create a rare-earths alliance by the end of the year to become less reliant on imports of the raw materials.Related Stocks: (FVAC) +13%, (NAK) +18%.

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Rare-earth metal producer up on Trump move to expand domestic production