Summary The United States has finalized its most comprehensive critical minerals list to date, expanding to 60 commodities including copper and silver for the first time, signaling strategic supply‑chain prioritization. China temporarily suspended new rare‑earth export controls following diplomatic engagement, though existing restrictions remain in force, maintaining leverage over global supply chains. Meanwhile, MP Materials has secured unprecedented government support through a $400 million Department of Defense partnership, establishing America's first integrated mine‑to‑magnet rare‑earth production capability.
Key Points
USGS finalizes 2025 Critical Minerals List with 60 commodities, adding copper, silver, uranium, and metallurgical coal to address supply‑chain vulnerabilities across defense and energy sectors. https://www.usgs.gov/news/science-snippet/interior-department-releases-final-2025-list-critical-minerals
China announces one‑year suspension of November rare‑earth export controls following diplomatic negotiations, while maintaining existing restrictions on seven rare‑earth elements and magnet materials. https://www.fdd.org/analysis/2025/11/12/china-pauses-some-rare-earth-export-curbs-while-retaining-levers-of-control/
Congressional investigation reveals systematic Chinese manipulation of critical‑minerals markets through predatory pricing strategies designed to eliminate Western competition and maintain strategic dominance. https://selectcommitteeontheccp.house.gov/media/press-releases/bipartisan-investigation-reveals-how-the-ccp-manipulates-the-critical-minerals-market
MP Materials advances domestic rare‑earth capabilities through $400 million Department of Defense partnership, targeting 10,000 metric tons annual magnet production capacity by 2028. https://fortune.com/2025/11/17/us-aims-breathe-easy-china-chokehold-rare-earths/
Australia's lithium sector shows recovery momentum as spodumene concentrate prices surge 21% monthly to $1,006 per tonne, driven by electric‑vehicle demand recovery and supply‑chain diversification efforts. https://discoveryalert.com.au/lithium-market-2025-spodumene-price-surge-demand-supply/
Why It Matters
Supply‑chain weaponization becomes explicit policy — China's export control suspension demonstrates how critical minerals serve as diplomatic leverage, while the U.S. responds with domestic production investments.
Manufacturing capacity drives mineral criticality — The expanded U.S. list reflects recognition that downstream processing and magnet production represent greater strategic vulnerabilities than raw material access.
Government partnership models emerge — MP Materials' federal equity participation and price floor guarantees establish precedent for strategic mineral security through public‑private collaboration.
Watchlist Companies
Company / Entity | Context
MP Materials Corp. (NYSE: MP) | Only integrated U.S. rare‑earth producer with $400 million federal partnership and Apple supply agreement for domestic magnet manufacturing. https://mpmaterials.com
Mineral Resources Ltd. (ASX: MIN) | Australian lithium producer showing 70% six‑month share price gains amid sector recovery and $1.2 billion POSCO strategic partnership. https://www.mineralresources.com.au
Pilbara Minerals (ASX: PLS) | Leading Australian lithium miner with 183% share price appreciation and world‑class Pilgangoora project expansion capacity. https://www.pilbaraminerals.com.au
Tianqi Lithium / Albemarle (NYSE: ALB) | Joint operators of Greenbushes mine facing increased competition from expanding Australian lithium production capacity. https://www.tianqilithium.com / https://www.albemarle.com
Energy Fuels Inc. (NYSE: UUUU) | Third‑largest rare‑earth processor expanding into critical minerals mining in Australia and Madagascar beyond uranium operations. https://www.energyfuels.com
Critical Minerals Spotlight
Copper and silver achieve critical status — First‑time inclusion reflects infrastructure and energy transition vulnerabilities, unlocking federal funding and expedited permitting.
Heavy rare‑earth processing bottleneck — MP Materials' planned 200‑tonne dysprosium/terbium production addresses Western magnet manufacturing constraints beyond Chinese supply.
Australian lithium market recovery — Spodumene price recovery signals battery supply‑chain stabilization as electric‑vehicle adoption accelerates through government incentives.
Action Points
Monitor federal implementation of expanded critical minerals designation benefits: funding opportunities, expedited permitting, and tax incentives for newly listed commodities.
Track Chinese export control enforcement despite suspension: existing restrictions on seven rare‑earth elements remain in force affecting defense contractors.
Evaluate Australian lithium exposure: recovery momentum and strategic partnerships with Asian manufacturers signal potential for sustained price improvements.
For supply‑chain managers: assess rare‑earth magnet procurement strategies as U.S. domestic production capacity scales toward commercial operations in 2026‑2028.
This briefing is for informational purposes only and is not legal, investment or policy advice. Information is believed accurate at the time of publication; sources are publicly available.
444Critical is delivered daily from Trail, British Columbia — a city built on metallurgy, innovation and collaboration — now standing as the operational centre of the North‑American critical‑minerals corridor.