Inside the motor of every EV, every wind turbine, every robot, every drone, and every missile hides a tiny magnet — the strongest in the world. It's made from just a handful of rare earth elements, uses only a few grams per part, and is almost impossible to replace. And China controls more than 90% of the "refining" and "magnet-making" behind it. In 2025, China actually played that card as a weapon, and factories around the world stalled. This is the story of the quietest — and most dangerous — bottleneck in the modern economy.
China Minmetals plans capital increase to acquire 51% stake in Guangxi Key Metals Group; Huaxi Nonferrous' actual controller to change, triggering a general offer
Huaxi Nonferrous announced on September 18 that its indirect controlling shareholder Guangxi Key Metals Group, together with its shareholders Beibu Gulf Port Group and the Key Metals Equity Fund, signed a Cooperation Framework Agreement with China Minmetals Corporation. China Minmetals plans to increase capital in Guangxi Key Metals Group to acquire a 51% stake and consolidate Guangxi Key Metals Group into its financial statements. After the transaction is completed, Beibu Gulf Port Group will no longer indirectly control the company, and the actual controller of Huaxi Nonferrous will change from the State-owned Assets Supervision and Administration Commission of the People's Government of Guangxi Zhuang Autonomous Region to China Minmetals, which will indirectly hold 56.47% of Huaxi Nonferrous. Because China Minmetals' indirect holding in the company through Guangxi Key Metals Group will exceed 30% of the issued shares, a mandatory general offer obligation is triggered. China Minmetals plans to make a general offer at 47.40 yuan per share to all shareholders of Huaxi Nonferrous A-shares other than the controlling shareholder Huaxi Group, proposing to acquire 275 million unrestricted tradable shares, approximately 43.53% of the total share capital, all in cash, with a maximum total amount of approximately 13.051 billion yuan. Trading in the company's shares will resume on Monday, September 21, 2026. This capital increase transaction still needs to be reviewed by the shareholders' meeting of Guangxi Key Metals Group, pass the concentration of undertakings review by the State Administration for Market Regulation, and obtain approval from the competent state-owned assets supervision and administration authority. The tender offer can only be finally implemented after the completion of the delivery of the 51% stake acquired by China Minmetals through the capital increase.
China Rare Earth Group in talks to acquire Shenghe Resources, sources say
China Rare Earth Group, a state-owned rare earth giant, is in talks to acquire Shenghe Resources, according to two people familiar with the matter. The talks began this year, and China Rare Earth Group wants to take a controlling stake, the sources said. If a deal is reached, Shenghe's holdings in overseas companies would be transferred, including a 3% stake in US rare earth company MP Materials, which would put China Rare Earth Group in the position of investing in MP, whose largest shareholder is the US Department of Defense. A successful acquisition would bring one of China's last major privately owned rare earth mining and refining companies under China Rare Earth Group, ending a decades-long effort to consolidate the sector under state control. Shenghe acquired Australia's Peak Rare Earths last year. According to one of the sources, a deal would make it easier for Shenghe to secure the quotas the Chinese government uses to manage supply. China Rare Earth Group, Shenghe Resources and China's Ministry of Commerce did not respond to requests for comment.
Trump and Xi to discuss trade in Washington, with agriculture, energy and rare earths in focus
US President Donald Trump is set to hold trade talks with Chinese President Xi Jinping in Washington on September 24, with trade in agricultural goods, energy and rare earths among the key issues both sides have used as bargaining chips in the trade war and which are likely to be raised again. On agricultural goods, one of the major US exports to China worth 29 billion dollars in 2024, China agreed to buy 25 million tonnes of soybeans a year from the United States through 2028, according to the White House, and US officials said China also agreed to buy an additional 17 billion dollars of other agricultural products during Trump's visit to Beijing in May. US Trade Representative Jamieson Greer said on September 3 that incentive measures to promote US agricultural sales to China could be announced. On energy, Bloomberg reported on Tuesday, September 15, that energy tariffs could be part of a 30 billion dollar reciprocal tariff reduction package, which was signalled after the May summit but has not yet been implemented. Meanwhile, US energy imports between 2020 and 2024 were worth between 7.5 billion dollars and 12 billion dollars a year. As for rare earths, where China controls production and has restricted exports to the United States, the issue has not been fully resolved. Reuters reported that US officials have demanded China honour its commitment to maintain continuous deliveries of these critical raw materials, and ahead of this summit the United States signalled the possibility of lifting some sanctions while threatening to impose additional ones. Trump said he would consider lifting some sanctions after the visit to Beijing.
EU Sets October Deadline for China to Rebalance Trade
The European Union is demanding concrete action from China to rebalance trade with the EU, setting a deadline for initial results by this October and warning that it will use every tool at its disposal if there is no progress. EU Trade Commissioner Maroš Šefčovič held a phone call with Chinese Commerce Minister Wang Wentao on September 17, covering issues including the management of goods exported to the EU, greater market access in China for European companies, and controls on rare earth exports. European Commission spokesperson Olof Gill said serious negotiations remain important, but the EU wants to see concrete initial results from the meeting in Beijing in October, which will show whether both sides are moving from words to outcomes. The EU currently runs a trade deficit with China of more than 1 billion euros, or 1.1 billion dollars, per day, prompting the European Commission, as well as Germany, to keep up pressure on China. EU leaders are scheduled to discuss and consider countermeasures to China's trade practices in mid-October. European Commission President Ursula von der Leyen warned on September 16 that the trade deficit with China has reached a critical turning point, and that while some see the EU as facing a second China shock, it has already arrived. Šefčovič stressed to reporters that he wants to see a clear signal that negotiations will move toward concrete positive results during next month's visit to China, where discussions will cover ways to increase exports of European goods to China as well as adjustments to customs tariff conditions.
Xi-Trump Summit to Put AI Rivalry, Tariffs and Yuan in Focus
Artificial intelligence, a lingering trade war and the yuan will likely dominate the agenda of the upcoming US-China summit between US President Donald Trump and Chinese counterpart Xi Jinping, with analysts focused on whether the two nations can reach concessions or put guardrails around key areas of competition. A Goldman Sachs Group Inc. survey shows 46% of offshore and 38% of onshore investors expect Chinese stocks to rise after the talks, while only a small minority foresees losses, though overseas exchange-traded fund flows and options positioning suggest foreign investors remain wary ahead of the summit, according to Tony Lee, JPMorgan Chase & Co.'s equity-derivatives strategist. AI is widely expected to be a central topic, with access to advanced US chips, safety standards and disputes over the pace of the industry's development among key points of contention, while the fate of a soon-to-expire one-year tariff truce, Beijing's export curbs on rare earths and the value of China's currency may also be in the spotlight. Expectations are high that the summit may result in an extension of the bilateral trade truce that will expire in November, after the two nations have started talks over slashing tariffs on certain goods, including American energy and agricultural shipments, as well as lower duties on Chinese inputs for manufacturers. The yuan may also be discussed, especially after US Treasury Secretary Scott Bessent said in August that many people considered the Chinese currency undervalued; the yuan has strengthened around 4% against the dollar this year, making itself Asia's top performer.
Stardust Metal Announces $12.6 Million Brokered Private Placement
Stardust Metal Corp. has entered into an agreement with Canaccord Genuity Corp. as lead agent and sole bookrunner for a best efforts private placement offering of up to $12.6 million in aggregate gross proceeds. The offering will consist of up to 3,345,000 premium flow-through common shares at $2.725 per share and up to 1,784,000 common shares at $1.95 per share, and the company has received a lead order from a recognized publicly traded regional producer. The agents will also receive an option to sell an additional 15% of each share class, which would raise up to $1,888,600 more and bring total gross proceeds to $14.5 million if exercised in full. The agents will be paid a cash commission of up to 6% of gross proceeds, and closing is expected on or about October 8, 2026, subject to approval by the TSX Venture Exchange. Proceeds from the premium flow-through shares will fund eligible Canadian exploration expenses at the company's Ontario projects, while net proceeds from the common shares will go to working capital and general corporate purposes.
Guardian Metal Resources Posts $10.043 Million Annual Loss
Guardian Metal Resources PLC reported a loss of $10.043 million for the year ended 30 June 2026, compared with a loss of $2.711 million a year earlier. Cash used in operating activities totalled $5.977 million, up from $1.122 million in 2025, while investment in the Group's mining assets amounted to $26.470 million, up from $8.038 million. As at 30 June 2026, the Group held cash balances of $52.459 million, compared with $1.873 million a year earlier.
AI Firms to Meet Alongside US-China Summit to Discuss Development Risks
CNN reported on the 16th that the Trump administration is considering holding a meeting with executives of major artificial intelligence and IT companies to coincide with the US-China summit scheduled for the 24th. With alarm growing over incidents of AI "running out of control," the participants will discuss the risks surrounding development. The topic is also expected to be taken up at a ministerial-level meeting on the 20th. It is unclear whether President Trump will attend the meeting with corporate executives, and Chinese President Xi Jinping is not expected to take part. Trump has said he will host an official dinner to coincide with the summit, and according to CNN, OpenAI CEO Altman and Nvidia CEO Huang are expected to attend. Separately, according to the US news site Axios, Treasury Secretary Bessent said regarding his meeting with Chinese Vice Premier He Lifeng on the 20th that he is open to discussions aimed at averting shared risks in the AI field and preventing the two countries' systems from splitting apart. In addition to AI-related risks, the talks will cover trade issues, rare earths, and economic matters.
Mount Ridley Mines Reports 91.8% Scandium Recovery in Final Selectro Leach Test
Mount Ridley Mines has reported a 91.8% scandium recovery from the final leach test of its initial Selectro programme at the Grass Patch project in Western Australia, according to a research note published by Cashu Research, the research division of Cashu Group. The test, Selectro Test 3, halved the reagent dose used in the previous two tests while lifting scandium recovery to 91.8% from 80.0%, with heavy rare earths averaging 84% and light rare earths 77%. It ran on unbeneficiated ore at low temperature and atmospheric pressure, reaching maximum recoveries in under four hours. Cashu Research said it could not identify a higher published scandium leach recovery from a listed company, noting that listed scandium developers generally rely on high-pressure acid leaching in autoclaves at around 250°C, with Sunrise Energy Metals assuming 88% at Syerston on 656ppm feed and Scandium International disclosing 70 to 80% at Nyngan on 409ppm. Grass Patch holds 47,357 tonnes of contained scandium within 946Mt at 50.1ppm, the largest reported under the JORC Code, and also carries gallium and heavy rare earths, all US-designated critical minerals with China-dominated supply, 25km from the port of Esperance. Selectro is wholly owned and patent-pending, and the company has named validation on third-party feed as a formal next step.
Nio Strategic Metals Defines Five REE-Target Dykes at Oka, Recommends 4,460-Metre Drill Program
Nio Strategic Metals Inc. announced that a high-resolution heliborne magnetic and radiometric survey has revealed the internal architecture of its 100%-owned Oka carbonatite complex in Quebec, defining five major magmatic structures with potential rare earth element mineralization. The 2023 survey, flown by Prospectair, covered the entire property including the North and South Rings and their Grenvillian host rocks, with 921 line-kilometres on 25-metre line spacing, a magnetometer at a mean height of 33 metres and a gamma-ray spectrometer at 52 metres. Interpretation by Jean David, Senior Geophysicist, and Ali Ben Ayad, Senior Geologist, integrated the survey data with seventy years of historical drilling, trenching, mapping and academic research, identifying three major shear zones including a sinistral strike-slip shear separating the North Ring from the South Ring. Within the North Ring, the five dykes are, from north to south, the Husereau, Manny North, Manny, Bond and Central Structure (S60-Wayfair Zone) dykes, and magnetic inversion sections suggest a possible connection between all of them at depths of 800 metres and beyond. Historical work cited in the release reports grades in selected samples ranging from 1.5 to 4% total rare earth oxides, with cerium present at between 2.1 and 15.8% CeO in the calcitic carbonatite at the core of the North Ring. On the basis of the integrated interpretation, the technical team recommends a nine-hole reconnaissance diamond drilling program totaling approximately 4,460 metres in the North Ring, with the primary objective of intersecting significant REE concentrations and, secondarily, niobium.
Western Star Resources Acquires 14 Lode Claims and 25-Year Surface Rights at Eagle Point Tungsten Project
Western Star Resources Inc. announced the acquisition of fourteen lode mining claims contiguous with the western boundary of its Eagle Point Tungsten Project in Hidalgo County, New Mexico, together with a Surface Use Agreement granting exclusive surface-use rights for mineral operations for an initial five-year term with renewal options for up to 25 years. Consideration for the claims and the Agreement is a cash payment of C$150,000 and the issuance of 4,000,000 common shares on closing, plus a 1.5% net smelter returns royalty granted to the vendors, of which the Company may repurchase 1.0% for a one-time payment of C$1,000,000. The claims were located by the vendors under the Bureau of Land Management Notice of Intent to Locate process, which applies to split estate lands where the federal mineral estate is administered by the BLM and the surface estate is privately owned. The Agreement permits up to 200 acres of active disturbance at any one time, with Western Star controlling the timing, methods and pace of operations, and it is freely assignable. Historical trenches and excavations documented in 1950s U.S. Government examination reports under the Defense Minerals Exploration Administration programme now sit within the expanded land position, and the Company has expanded its ongoing UAV magnetic survey to cover the enlarged property. Closing remains subject to customary conditions including receipt of all necessary regulatory approvals.
GoldHaven Reports 800 Metres Drilled at Magno Tungsten Project in British Columbia
GoldHaven Resources Corp. has completed over 800 metres of drilling in four holes from the first drill pad at the historic Kuhn tungsten skarn system within its 100%-owned Magno Project in the Cassiar District of northern British Columbia, part of a maiden diamond drill program that began in late August. The first three holes hit broad intervals of skarn alteration and sulphide mineralization within the top 100 metres, including an approximately 20-metre skarn interval in the second hole where historical interpretation had mapped two separate narrower bands, and the fourth hole, GOH26-04, confirmed a down-dip extension into a previously unexplored part of the skarn unit. Historical drilling at Kuhn returned 13.0 metres grading 0.55% WO3 and 11.3 metres grading 0.59% WO3 with 0.10% MoS2, and historical work outlined approximately 616,500 tonnes grading 0.48% WO3 across four modeled lenses at the Kuhn and Dead Goat system, an estimate that pre-dates NI 43-101 and is not being treated as a current mineral resource. Chief Executive Officer Rob Birmingham said the first phase is giving the company a modern look at a historically important tungsten system, and drilling is planned to move to a second pad along strike for roughly three to four additional holes. The program, run by Northtech Drilling, is the first phase of a broader campaign across the 37,000-plus hectare Magno Project, where GoldHaven also intends to evaluate targets including the D Zone, supported by a recently completed 2,320.7 line-kilometre airborne magnetic and QMAGT survey.
EU Opens Door to Canada as First Associate Member, Aiming to Deepen Tech, Defense and Energy Cooperation
Ursula von der Leyen, President of the European Commission, announced on September 16 that the European Union is opening the door to welcoming Canada as the bloc's first associate member, a new cooperation framework never before specified in EU treaties. Speaking during her annual policy address to the European Parliament in Strasbourg, France, she said the two sides will cooperate comprehensively across areas ranging from smart manufacturing, critical strategic minerals and energy to AI, and will establish a technology alliance, integrate their defense industrial bases, and push to make the Arctic region a flagship cooperation project. The EC President stressed that this partnership is not aimed against anyone else, while many observers see it as Europe's effort to avoid confrontation with U.S. President Donald Trump. The move marks a major policy shift for the EU, which has in the past generally rejected flexible membership categories, with most EU member states still reserving judgment on Germany's May proposal to grant Ukraine associate member status as a path toward full membership. Canadian Prime Minister Mark Carney said earlier this week that Canada is seeking a unique partnership with the EU but does not want full membership. The EC President has invited Prime Minister Carney to a meeting in Strasbourg, and the Canadian leader is scheduled to deliver a speech on Thursday, September 17, following a historic rupture in Canada-U.S. relations caused by failed trade negotiations last month that led to tit-for-tat tariff measures.
US Lacks Effective Tools to Halt China's AI Catch-Up as Rare Earth Retaliation Looms
The United States is struggling to find effective means to prevent China from becoming an AI superpower. Anthropic CEO Dario Amodei, in a 3,800-word essay, called for banning sales of advanced AI semiconductors to China and tightening crackdowns on smuggling, but President Trump has signaled openness to allowing sales of some chips to China, including Nvidia's H200. The biggest challenge for the US is avoiding provoking further tightening of export controls by the Chinese government on rare earths used in precision-guided missiles and drones. Last year, President Trump and President Xi Jinping agreed to a truce in which China guaranteed rare earth supplies in exchange for tariff reductions, and that agreement is likely to be extended when Xi visits the White House next week. Although China still lags in semiconductor production, AI models developed by companies such as DeepSeek and Moonshot AI are narrowing the capability gap with the most advanced US models, often at a fraction of the cost.
Victory Metals Granted Mining Lease M20/564 at North Stanmore
Victory Metals Limited announced on 14 September that Mining Lease M20/564, covering almost 2,006 hectares near Cue, Western Australia, was granted on 11 September. Cashu Research had named the mining licence in its 19 August report as one of three milestones that would most materially de-risk North Stanmore, placing it in a 2026-27 window, and it arrived early. The Pre-Feasibility Study, released 18 August alongside a maiden Ore Reserve, put the build cost at A$155 million including 30% contingency, down 54% from A$337 million at scoping, with a A$1.21 billion post-tax NPV8, A$1.76 billion pre-tax, a 240% post-tax IRR and roughly 1.5 years payback from first production across 20 years at 2.4Mtpa, about 29,000 wet tonnes a year of concentrate and A$6.5 billion in life-of-mine revenue. A non-binding EXIM letter of interest for up to US$190 million is already on the table, roughly 1.8 times the entire build cost. Victory Metals CEO Brendan Clark described North Stanmore on release of the study as one of the lowest cost heavy rare earth projects in a geopolitically safe region, with its value carried by dysprosium and terbium, both inside China's April 2025 export controls, which were never suspended, while the broader October 2025 package expires from suspension on 10 November 2026.
Tungsten West has announced plans to restart operations at the Hemerdon mine in Devon, England, with full-scale production targeted for the first quarter of 2027. The company is installing six TOMRA Mining XRT ore sorters equipped with OBTAIN Deep Learning technology as part of a redesigned processing plant at the mine, which was shut down in 2018 and acquired in 2019. The six sorters, split between COM Tertiary XRT and COM XRT 2.0 units to handle material fractions ranging from 10mm to 80mm, are scheduled for installation completion in the fourth quarter of 2026. Approximately 30% of the processed material, containing mineralised tungsten, will be sent for further concentration and tin recovery, while the remaining 70% will be made available as a by-product aggregate for the construction industry. The Hemerdon project is set to provide a substantial source of tungsten for European markets outside China, whose roughly 80% share of global tungsten concentrate production faces export restrictions and reduced domestic output, and Hemerdon's reserves could contribute around 4.1% of global production. Last month, the UK's National Wealth Fund announced an investment of up to $95.74m (£71m) in Tungsten West to support the restart.
Almonty signs binding tungsten partnership with Rwanda Government
Almonty Industries has signed a binding agreement with the Government of Rwanda to form a new tungsten-focused partnership, under which Rwanda will obtain a 25% interest in a new platform, Almonty Rwanda, while Almonty retains the remaining 75% stake. The platform aims to collect and export tungsten ore, pre-concentrate and panning tailings sourced from small-scale licence holders in Rwanda, with Rwanda contributing the Shyorongi exploration concession and a mineral processing licence to the project. A mobile processing unit is planned to upgrade these materials, and the partnership intends to export products until a collection and processing plant is built in the country, with the Government of Rwanda assisting Almonty Rwanda in acquiring material from local mine operators, landowners and licence holders. The initiative follows an introduction by the US Department of State under the 2025 US-Rwanda Framework for Shared Economic Prosperity, and both parties view the transaction as a first stage towards a broader investment framework covering future development and the construction of a centralised processing facility in Rwanda. The block, which encompasses around 32km² at Shyorongi, is designed to access near-term production from the existing output of the sector, and the new partnership comes as forthcoming US defence procurement regulations will require greater traceability of tungsten ore and feedstock from 2027.
China issues new rules giving officials power to bar citizens from leaving the country, aiming to stem the outflow of capital and tech talent
China has stepped up its controls on outbound travel, with new regulations issued by the Chinese cabinet and taking effect on September 15, 2026, giving officials the legal authority to bar Chinese citizens from leaving the country in certain cases, shifting from case-by-case travel bans to a permanent mechanism used to control the outflow of capital and highly skilled personnel. Under the new rules, officials can suspend outbound travel if it is linked to violations of export controls or the transfer of technology deemed a potential threat to national security, with technology personnel likely to face the strictest restrictions, after China had already restricted exports of rare earths, electric vehicle batteries and solar panels. Neo Wang, a China strategist at Evercore ISI, said the goal is to retain capital and personnel, which are crucial to driving China's innovation and raising productivity, while Dan Wang, China director at Eurasia Group, sees the new rules as making the system more permanent and expects stricter enforcement at the local level. On tax measures, in July China imposed a 20% income tax on assets transferred to overseas trusts since 2023, and in early September regulators also set a 20% tax on foreigners receiving dividends from foreign-invested companies, while Clifford Ng, a partner at Zhong Lun Law Firm, said clients with no family or assets left in China are more likely to decide to leave the country permanently.
MAHLE unveils range extender and magnet-free MCT motor at IAA TRANSPORTATION 2026
MAHLE has announced it will present sustainable drive solutions at IAA TRANSPORTATION 2026 in Hanover, Germany, from September 15 to 20, 2026, under the theme Electrified. Efficient. Economical. The highlight is a range extender system for electric trucks, an intelligent power generating unit that combines a generator, a combustion engine, thermal management, a fuel tank, an AdBlue tank and exhaust aftertreatment in a single unit. It can be installed directly into existing electric truck platforms. The system delivers 110 kW of continuous electrical power and 130 kW of peak power, can replace roughly one third of existing battery capacity, and cuts total vehicle weight by about 600 kilograms, allowing an electric truck to travel more than 800 kilometers, split between 400 kilometers on battery and 400 kilometers on the range extender. It also reduces carbon dioxide emissions by more than 80 percent, falling to nearly zero when used with the renewable fuel HVO100. In addition, MAHLE is presenting the MCT electric motor, short for MAHLE Contactless Transmitter, for heavy-duty truck drive axles for the first time in the world. It uses no permanent magnets, cutting rare earth usage by up to 3 kilograms per vehicle, delivers a peak output of 370 kW and more than 900 newton meters of torque, and achieves efficiency of up to 95 percent in testing under the VECTO standard, while reducing drivetrain weight by 10 kilograms. Arnd Franz, chairman of the MAHLE management board and chief executive officer, said the market wants electrified solutions that are both cost-effective and practical, and called on governments and policymakers to embrace technological diversity, including battery electric vehicles, hydrogen and renewable fuels. MAHLE currently partners with more than 120 commercial vehicle manufacturers worldwide and aims to grow its commercial vehicle business faster than the market over the next five years.
Canada Seeks Investment in More Than 160 Projects Amid Trade War With US
Canadian Prime Minister Carney is aiming to attract investment in more than 160 projects as a key to weathering the trade war with the United States. According to the Prime Minister's Office, Carney, a former Goldman Sachs executive, held one-on-one meetings on the 14th with BlackRock CEO Larry Fink and Blackstone President Jon Gray, among others. According to government sources, the summit, mainly to be held on the 15th, will feature discussions on future investment, but it could take 12 to 18 months before large-scale deals materialize. Carney has pledged to attract 1 trillion Canadian dollars, or 721 billion US dollars, in investment over the next five years through deregulation and the promotion of mining, energy, technology, and infrastructure projects. At a welcome reception on the 13th, Carney said that some of the world's largest investors, who manage more than 120 trillion Canadian dollars in assets, are now looking at Canada differently than before.
Most Trump Administration Equity Stakes Fall Below Post-Deal Prices, Yahoo Finance Analysis Finds
A Yahoo Finance analysis has found that 14 of the 17 public companies that accepted government involvement ended this past week with share prices lower than the day after their deals with the Trump administration were announced. The pattern has been a significant bump around the formal announcement, high volatility afterward, and then gains given back almost as quickly as they came, with USA Rare Earth jumping over 80% in five trading days around its January deal announcement before giving up all those gains and more, ending Monday at $15.71 per share, far below post-deal highs above $30. Returns for 11 of the 17 companies, measured against 10 trading days before the formal announcement, are also lower now, and the negative returns are even more pronounced given that two of the three gainers are Intel and Nippon Steel, which gave the government a golden share with outsized voting rights but not an equity stake, while the third is MP Materials, which secured a deal in July 2025. The administration has taken stakes in more than 30 companies, recently adding its 32nd, a privately held oil driller called North American Blue Energy Partners that obtained 100-year leases on land in Venezuela holding an estimated 65 billion barrels of oil, and the portfolio now spans quantum computing, semiconductors, oil drilling, steel, nuclear energy, and rare earth mineral companies. Cato Institute policy analyst Tad DeHaven, who has studied the government stakes, said it certainly looks like a sugar high, adding that there looks to be a short-term benefit but that in the long term it comes down to fundamentals. The government's stake in Intel has jumped from an estimated $8.9 billion when the deal was struck to more than $50 billion today, with Intel stock closing Monday at $97.19, down over 5% on the day but still more than quadruple its price in August 2025 just before the deal was announced.
Avalon Rare Metals Upgraded to Zacks Rank #2 Buy on Rising Estimates
Avalon Rare Metals Inc. has been upgraded to a Zacks Rank #2 (Buy), a rating that places it in the top 20% of the more than 4,000 stocks covered by the Zacks Rank system. The upgrade reflects an upward trend in earnings estimates, with the Zacks Consensus Estimate for the company rising 41.8% over the past three months. For the fiscal year ending August 2026, Avalon Rare Metals is expected to earn -$3.81 per share, unchanged from the year-ago reported figure. The Zacks Rank system classifies stocks into five groups, from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and its top-rated stocks have generated an average annual return of +25% since 1988. Only the top 5% of Zacks-covered stocks receive a Strong Buy rating, while the next 15% receive a Buy rating.
USA Rare Earth Completes $2.8 Billion Serra Verde Acquisition
USA Rare Earth has completed its $2.8 billion acquisition of Serra Verde, a Brazil-based mining company that is the only scaled producer of the core four rare-earth elements in the Western Hemisphere. The company projects that the newly integrated Serra Verde business will achieve an annualized run rate for EBITDA between $550 million and $650 million by the end of next year, and that its combined businesses will reach approximately $1.8 billion in adjusted EBITDA in 2030, up from just $5.8 million in second-quarter revenue and a $46.3 million operating loss. The U.S. government holds a roughly 10% equity position in USA Rare Earth that could rise to as much as 16% through stock warrants, and the Department of Defense provided $750 million in direct investment in a special-purpose vehicle that also included a $500 million credit facility from a Tier-1 institutional bank and a five-year purchase agreement for rare earth valued at least $300 million. Serra Verde had already announced a 15-year offtake agreement with multiple U.S. government agencies and private companies, securing access to 100% of its Phase I production of magnetic rare earth and guaranteed pricing floors for dysprosium and terbium. By contrast, TMC The Metals Company, which extracts polymetallic nodules from the seabed, has seen its expected NOAA certification pushed out to October and no longer expects to have its permit by the first quarter of 2027, though it still aims to begin commercial vessel commissioning in next year's fourth quarter.
Largo Restructures Debt With Caixa, Starts Copper-PGM Concentrate Sales
Largo Inc. announced a debt-restructuring agreement with Caixa Econômica Federal and its first sales of copper-platinum group metals concentrate. The definitive agreement with Caixa Econômica Federal was signed on September 11, 2026, following the binding term sheet announced on August 20, and Largo expects to enter similar agreements with its remaining Brazilian bank lenders. Separately, Largo extended the maturity of a $6.0 million promissory note with ARG International AG to February 2028 from February 2027, subject to a fee equal to 1% of the principal amount. The initial copper-PGM concentrate sales, made through agreements with two trading companies and a European smelter, are expected to generate approximately $4.7 million in cash proceeds during September 2026, while the first shipment under Largo's contract with the US Defense Logistics Agency is expected to arrive at a US port in late September. Largo also said its 2026 vanadium production is now expected to be at the lower end of its previously announced guidance range as it temporarily reduces mining activity and processes existing stockpiles, and it announced that Jim Bannantine will lead its commercial department while Francesco D'Alessio leaves to take a chief executive position elsewhere.
TD launches $150B five-year plan to accelerate Canadian investment
Toronto-Dominion Bank launched a five-year, $150B commitment to accelerate investment, growth, and innovation across sectors critical to Canada's economy. The commitment will support new lending, underwriting, advisory, and other financing activities across five key areas: energy, critical minerals and resources, defence and aerospace, digital and AI, and infrastructure. TD will also focus on supporting small and mid-sized businesses, Indigenous economic participation, sustainable growth, workforce readiness and AI enablement.
Canada launches flagship investment summit, aiming to attract 720 billion US dollars over 5 years
Canadian Prime Minister Mark Carney announced that a new consensus on economic reform and future direction has taken hold across the country, ahead of the first-ever Canada Investment Summit, to be held in Toronto on September 14-15. The event aims to draw a total of 1 trillion Canadian dollars, or 720 billion US dollars, in investment over the next five years. The summit will present Canada's Deal Book, which compiles major projects in the energy, strategic minerals, advanced technology, and large-scale infrastructure sectors, in order to connect global capital with Canada's major projects, strengthen domestic supply chains, raise productivity, and reduce economic dependence on the United States. Carney told leading business figures that Canada is taking control of its own economic future, and will build more, trade more with one another, and trade more with the world.
Huaxi Nonferrous Metals plans control change and trading halt; Xuetian Salt and GRINM Semiconductor resume trading after restructuring
Huaxi Nonferrous Metals received a notice on September 11, 2026 from the State-owned Assets Supervision and Administration Commission of the Guangxi Zhuang Autonomous Region, forwarded by its indirect controlling shareholder Guangxi Key Metals Industry Development Group, stating that it is planning a major cooperation with China Minmetals Corporation. The matter may lead to a change in control of the company. Trading in the company's shares will be suspended from the market open on September 14, 2026, with the suspension expected to last no more than two trading days. On the same day, Xuetian Salt announced plans to acquire 100% of the shares of Hebei Kuntian held by 54 counterparties including Song Zhitao and Liu Gejun through a combination of share issuance and cash payment, and to raise supporting funds. Trading in the company's A-shares will resume from the market open on September 14, 2026. GRINM Semiconductor plans to acquire a combined 71.89% stake in Shandong GRINM Aisi from two counterparties, China GRINM Group and Dezhou Huida Fund, through share issuance and cash payment, and plans to acquire a 14.98% stake in Shandong GRINM Semiconductor from Dezhou Jingtai through share issuance. After the transaction, Shandong GRINM Aisi will become a wholly-owned subsidiary of the listed company, and Shandong GRINM Semiconductor will change from a majority-owned subsidiary to a wholly-owned subsidiary. The transaction is expected to constitute a major asset restructuring. Trading in the company's shares will resume from the market open on September 14, 2026. ST Zhuoran received an advance notice of administrative penalty from the Shanghai Securities Regulatory Bureau on September 11, 2026. Based on the findings, the company may have committed a major violation under the listing rules of the STAR Market of the Shanghai Stock Exchange and may be subject to mandatory delisting for major violations. The Shanghai Stock Exchange will impose an additional delisting risk warning on the company's shares. In addition, Yuanlin Co. is planning to acquire a controlling stake in Hangzhou Hualan Microelectronics Co., Ltd. through share issuance and cash payment. Trading in its shares will be suspended from September 14, 2026, with the suspension expected to last no more than ten trading days. Inspur Electronic Information plans to raise no more than 9 billion yuan through a private placement of shares to specific investors.
Huaxi Nonferrous Metals Plans Change of Control; Trading Suspended Next Monday
Control of Guangxi state-owned Huaxi Nonferrous Metals may change. On the evening of September 11, Huaxi Nonferrous Metals announced that it had received a notice from the Guangxi State-owned Assets Supervision and Administration Commission, forwarded by its indirect controlling shareholder Guangxi Key Metals Industry Development Group, stating that it is currently planning a major cooperation matter with China Minmetals Corporation, which may lead to a change in the company's control. Given the uncertainty of the matter and to avoid abnormal share price movements, trading in the company's shares will be suspended from the market open on the morning of September 14, 2026, next Monday, with the suspension expected to last no more than two trading days. Public information shows that Guangxi Key Metals Group was established in January 2026 as a strategic platform for Guangxi state-owned assets to consolidate key metal resources such as tin, antimony, and indium in the region, and is the indirect controlling shareholder of Huaxi Nonferrous Metals. On June 25 this year, Wei Tao, chairman of the Guangxi Zhuang Autonomous Region, met in Nanning with Zhu Kebing, general manager of China Minmetals, and expressed hope that China Minmetals would continue to increase its investment in Guangxi, accelerate the implementation of cooperation projects, and jointly build a national-level key metals industry platform. In the first half of this year, benefiting from rising prices of tin, indium, and other metals, Huaxi Nonferrous Metals achieved operating revenue of 3.039 billion yuan, up 9.03 percent year on year, and net profit of 534 million yuan, up 39.81 percent year on year.
BMO to Mobilize Up to $70 Billion for Critical Canadian Sectors Over 10 Years
BMO announced it plans to mobilize up to $70 billion in new capital over 10 years for sectors critical to Canada's economic security and resilience. The commitment, described by the bank as Canada's first, targets electricity infrastructure including generation, transmission and distribution, energy infrastructure such as pipelines, transportation infrastructure including roads, airports and terminals, mining and critical minerals, AI computing, defence and security, and oil and gas. Chief Executive Officer Darryl White said the initiative builds on more than 200 years of financing Canadian growth, dating to 1817, and that the opportunities in these sectors represent the latest chapter in that story. The capital is expected to take the form of bank financing, debt capital markets activity and the raising of public equity, and reflects expected demand from initiatives proposed to Canada's Major Projects Office, projects supporting Canada's National Electricity Strategy, the Trilateral MOU among the Federal Government, the Province of Alberta and the Oil Sands Alliance, Canadian Sovereign AI initiatives, and proprietary BMO analysis for the defence and oil and gas sectors. BMO said it authorized nearly $300 billion in lending to over 270,000 Canadian businesses and organizations in 2025, invested approximately $3.4 billion in Canadian companies and innovation ecosystems, and has more than 30,000 employees across Canada.
Spark Energy Signs Five-Month Digital Marketing Deal After Gallium-Rare Earth Finds at Arapaima
Spark Energy Minerals Inc. has signed a five-month digital marketing services agreement with X Media Inc. SEZC, following two previously announced gallium-rare earth discoveries 7-8 kilometres apart at its approximately 91,900-hectare Arapaima Project in Brazil's Lithium Valley. Under the agreement signed on September 4, 2026, X Media will provide digital marketing and investor awareness services from September 10, 2026 to February 10, 2027, including article publication and distribution, investor email and SMS outreach, landing-page development, and paid digital advertising through investor communities, social media and search retargeting. Spark has agreed to pay X Media US$300,000, payable as US$100,000 upon execution followed by four monthly payments of US$50,000, with no shares, stock options or other securities issued as compensation. The company said it has reported gallium and rare earth mineralization in all 33 RC drill holes disclosed to date across the Cruzeta and Boa Vista discoveries, and has completed 42 RC holes across Arapaima with results from the remaining nine holes yet to be reported. In its August 27, 2026 news release, Spark reported a project-record individual gallium assay of 114.3 g/t gallium oxide over 2 metres from surface in hole ARA-RC-007 at Boa Vista, where all five maiden holes returned gallium mineralization from surface and rare earth mineralization below. Chief Executive Officer Dr. Fernando Tallarico said the company believes now is the time to put Spark in front of a much larger investor audience given the exploration results to date.
Ucore Director Exercises Warrants, Company Repays Orca Debt
Ucore Rare Metals Inc. announced that director Randy Johnson, through his holding company Orca Holdings, LLC, exercised warrants to acquire 10,268,165 common shares, generating proceeds of $8,485,123.75, and that the company has fully repaid all indebtedness to Orca, totaling $8,709,268 (US$6,274,463). The warrant exercises, completed on September 9, 2026, involved warrants with expiry dates ranging from October 1, 2026 to January 31, 2027, and the company used the proceeds to strengthen its financial position. The debt repayment, completed on September 4, 2026, covered a secured line of credit bearing 10.0% interest and a secured term loan bearing 9.0% interest, eliminating all outstanding loans and debt. Chairman and CEO Pat Ryan stated that retiring these obligations strengthens Ucore's balance sheet as it advances the Louisiana SMC development. The transactions were considered related-party transactions, and the company relied on exemptions from minority shareholder approval and formal valuation requirements under MI 61-101.
EU invests €530 million in Greenland to counter US influence
The European Union (EU) has announced a significant increase in investment in Greenland, signaling clear geopolitical competition in the Arctic region. The EU is preparing investments of around €200 million for 2026-2027 and has proposed expanding its long-term budget to as much as €530 million for 2028-2034, a dramatic increase. The focus of investment is shifting from fisheries and education to strategic industries such as critical minerals, renewable energy, digital infrastructure, and satellites. This move comes after Donald Trump pushed for the US to take control of Greenland, citing security reasons, which was firmly rejected by both Greenland and Denmark. The visit of the European Commission President to Greenland is therefore a political message that Europe stands ready to support Greenland in maintaining the balance of power in the region. This investment helps reduce dependence on minerals from China and strengthens Europe's technology supply chain security. Meanwhile, global warming is causing ice to melt, opening new shipping routes and access to rare earths beneath the ice sheet, which are essential for producing EV batteries, wind turbines, and computer chips. Greenland's Prime Minister has welcomed cooperation with the EU to bring in funds for infrastructure development, improving quality of life, and strengthening the economy.
Solvay confirms talks with OneIM on rare earths partnership
Solvay has confirmed it is in discussions with One Investment Management (OneIM) regarding a potential strategic partnership for its rare earths business. The company stated that there is no certainty these talks will result in an agreement or transaction, and it will make a further announcement if appropriate. Solvay, a chemical company with around 8,400 employees and €4.3 billion in underlying net sales in 2025, is listed on Euronext Brussels and Paris.
USA Rare Earth (NASDAQ: USAR) stock recorded strong double-digit gains in August, with its share price climbing 19.2% according to S&P Global Market Intelligence, outperforming the S&P 500's 2.6% rise and the Nasdaq Composite's 3.9% gain. The surge was driven by the company's announcement on August 24 of the finalization of a special purpose vehicle (SPV) deal with the U.S. Department of War, which included a $750 million direct investment, a $500 million debt facility, and a five-year purchasing contract worth at least $300 million, all contingent on the completion of the Serra Verde acquisition. The company's second-quarter results, reported on August 10, showed an adjusted loss of $0.15 per share on sales of $5.82 million, missing Wall Street expectations, but the SPV news overshadowed that disappointment. On September 4, USA Rare Earth completed its roughly $2.8 billion acquisition of Serra Verde, a Brazilian rare-earth mining specialist, which is expected to generate annualized EBITDA by the end of 2027 and contribute to a combined EBITDA of roughly $1.8 billion by 2030.
Genflow Biosciences announced that its SLAB gene therapy trial in ageing dogs has met its primary endpoint, and it is now in talks with major animal health companies about a licensing deal. EnergyPathways has appointed Jacobs as engineering and regulatory partner for its MESH energy storage project in the Irish Sea, moving toward a key Ofgem funding submission. Itaconix is targeting a doubling of revenue to $30 million in the medium term, after half-year revenue jumped 72% on strong detergent demand. Gaming Realms says it is well placed to keep growing despite a UK tax hike hitting margins, with core content licensing revenue up 12% in the first half. Total Graphite reports that fresh drilling in Madagascar has strengthened the case for restarting mining at Vatomina, with one hole returning 19 metres at 3.3% graphite. 80 Mile has agreed indicative terms for a £61.5 million all-share takeover by Nasdaq-listed Greenland Energy, representing a near-47% premium to its share price.
ASEAN's Clean Energy Tech Imports from China Surpass $20 Billion, Up 50%
ASEAN has become Asia's largest market for Chinese clean energy technology, with purchases in 2026 exceeding $20 billion, a 50% increase from the previous year, led by solar cells, batteries, and grid equipment, according to a Reuters Open Interest report citing data from energy research institute Ember. Imports of solar equipment from China were valued at $4.1 billion, up nearly 90%, accounting for 57% of China's total solar exports in Asia. Meanwhile, batteries were worth nearly $7 billion, and grid equipment around $1.6 billion. This growth is significant for Chinese manufacturers as Europe and the United States have increased trade barriers, while ASEAN, with a population of 700 million and an economy growing at 5% annually, sees rising electricity demand. For Thailand, access to cheap goods helps reduce the cost of the energy transition but also increases competition with domestic producers.
Tesla Cybercab Motor Uses No Rare Earth Metals, Musk Says
Tesla CEO Elon Musk announced that the Cybercab's electric motor operates without rare earth metals, a design he described as "extremely hard" to achieve. The motor is 18% smaller, 25% lighter, and more efficient than counterparts, while maintaining the same range. This move could help Tesla navigate supply chain issues related to China's dominance in rare earth processing and potential tariff restrictions. However, investor Gary Black of The Future Fund LLC called the Cybercab event "largely a bust," citing a lack of detail and unanswered questions about deployment plans. Musk, in contrast, hailed the launch as marking a "golden era" in transportation, and noted the vehicle's efficiency compared to Alphabet's Waymo robotaxis.
Japan and U.S. advance $550 billion investment pact with AI and chips in focus
Japan is making progress on a $550 billion investment initiative with the United States, with artificial intelligence and semiconductor projects expected to play a central role in the next phase of the agreement, Bloomberg reported on Friday. Trade Minister Ryosei Akazawa said the two countries will continue working closely to implement the investment vehicle, following meetings in Washington with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer. Akazawa declined to provide details on a third tranche of projects under the pact, but said discussions surrounding AI and chips will carry "very significant weight" as both governments prioritize investments that deliver mutual economic benefits. The $550 billion fund was established as a key pillar of last year's U.S.-Japan trade agreement, under which the Trump administration agreed to cap tariffs on Japanese goods at 15% and reduce duties on automobiles. The first round of projects committed $36 billion to U.S. oil, gas and critical minerals, including a natural gas facility in Ohio, while a second package added $73 billion for nuclear power projects in Tennessee and Alabama, alongside natural gas power plants in Pennsylvania and Texas. Akazawa also said both sides confirmed that no additional tariffs would be imposed on Japan beyond the terms of last year's agreement, providing greater certainty for Japanese manufacturers and investors.
Energy Fuels reported a wider net loss of $33.4 million, or 13 cents per share, for the second quarter of 2026, compared with a loss of $21.8 million, or 10 cents per share, a year earlier, as higher operating expenses and costs tied to its expansion initiatives weighed on profitability. Revenues surged 496% year over year to $25.1 million, driven by higher uranium sales volumes and realized prices, but costs applicable to revenues jumped 192% to $10.7 million, and selling, general and administrative expenses rose 30% to $19.2 million. The company also incurred $10.7 million in transaction and integration-related costs during the quarter, primarily associated with its planned acquisitions and strategic expansion initiatives. For the first six months of 2026, Energy Fuels reported a net loss of $44.6 million, narrower than the $48.2 million loss in the prior-year period. As of June 30, 2026, the company held $58.4 million in cash and cash equivalents and $878.3 million in current marketable securities, along with approximately 1,640,000 pounds of uranium and 905,000 pounds of vanadium finished goods inventory. The widening loss underscores the financial challenges of simultaneously expanding uranium production and building a broader rare earth supply chain, while peers like Cameco and MP Materials also face pressures, with Cameco's adjusted earnings down 75% and MP Materials reporting an improved adjusted loss of one cent per share.
Energy Fuels Completes $243M Rare-Earth Alloy Acquisition
Energy Fuels Inc. has completed its acquisition of Australian Strategic Materials for approximately $243.4 million, adding an operating metal and alloy business to its rare-earth portfolio. The deal, which included $217.2 million in shares and $26.2 million in cash, brings the Korean Metals Plant with about 1,300 tonnes of annual neodymium-iron-boron alloy capacity, as well as the Dubbo Project in Australia. Management plans to expand alloy capacity to 3,600 tonnes annually, with commissioning possible by the end of 2026, and is pursuing the acquisition of VACUUMSCHMELZE to add finished magnet manufacturing. The company reported roughly $996 million in working capital at June 30, 2026, but also posted a second-quarter net loss of $33.4 million on revenue of $25.1 million. The broader strategy, which includes integrating ASM, expanding the Korean plant, advancing Dubbo, enlarging White Mesa, and closing the VAC deal, carries significant execution and financing risks.