MP Materials, TMC up on report Trump is planning to stockpile deep-sea metals
ReutersApr 14, 2025 12:55 PM
Shares of MP Materials MP.N and TMC The Metals Company TMC.O up 11.6% and 20.5% premarket, respectively
Shares rose after U.S. President Donald Trump drafted an executive order to enable stockpiling of deep-sea metals to counter China's dominance in battery minerals and rare earth supply chains - FT reported on Saturday
Report added the stockpile would "create large quantities ready and available on U.S. territory to be used in the future", in case of a conflict with China that might constrain imports of metals and rare earths
As of last close, MP and TMC were up 45.38% and 74.11% YTD, respectively
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