Fubotv earnings beat by $0.10, revenue topped estimates
Investing.com-- U.S. President Donald Trump is seeking to build metal refining facilities on Pentagon military bases, and also plans to name a critical minerals czar to help curb dependence on Chinese imports, Reuters reported on Thursday.
Trump could announce the move in an executive order by as soon as Wednesday, as the U.S. President recently said he will move to secure domestic production of critical minerals and rare earths.
Under the order, the Pentagon will work with other U.S. Federal agencies to install refining facilities in its bases, the Reuters report said. The building of refineries on defense land underscores the importance of critical minerals, which are used heavily in defense applications.
China is the world’s biggest producer of critical minerals and rare earths, and is also their biggest processor. The country has leveraged this dominance in a trade war with the U.S., having introduced export controls on some materials in response to increased trade tariffs under Trump.
Trump is also seeking to increase domestic production and reduce import reliance for several key commodities, having recently imposed tariffs on imports of steel, aluminum, and copper.
Critical minerals- such as cobalt- and rare earths- such as neodymium- are a key component of electronics manufacturing, and are used in applications ranging from consumer electronics to defense. Several U.S. defense assets- such as fighter jets, ships, and other weaponary- are built using minerals sourced from China.
Australia’s Lynas Rare Earths Ltd (ASX:LYC) is the biggest producer of the materials outside China, and has come under increasing strategic interest in recent years on this trend. Fears of a supply shortage also boosted the stock so far in 2025.