Rare earth developers and producers based in WA rack up another round of gains on US-China trade tensions

Adrian Rauso
The Nightly
Northern Minerals Browns Range project site. Jakeb Waddell
Northern Minerals Browns Range project site. Jakeb Waddell Credit: Broome Advertiser/Broome Advertiser

Local rare earth stocks continue to accumulate massive gains as tensions between China and the US over the coveted basket of minerals reach boiling point.

WA-headquartered companies have been among the biggest beneficiaries of China’s latest wave of export restrictions on high-performance magnets manufactured with rare earth elements as a trade tit-for-tat with the US escalates.

US President Trump Donald Trump on Friday responded to Beijing’s most recent export controls by imposing additional tariffs of 100 per cent on his country’s exports to China by November 1. The market is expecting China to retaliate further.

Sign up to The Nightly's newsletters.

Get the first look at the digital newspaper, curated daily stories and breaking headlines delivered to your inbox.

Email Us
By continuing you agree to our Terms and Privacy Policy.

Prices for key rare earth elements neodymium and praseodymium are on the rise and not expected to peak until at least late 2026, according to Macquarie research released on Tuesday.

“We expect the strong demand outlook for permanent magnets, driven by electric vehicles, white goods and personal electronic products and a lack of a supply-side response, to push NdPr prices to a peak of $US120 per kilogram in late 2026 or early 2027,” it said.

Lynas Rare Earths hit a fresh 14-year high on Tuesday — up 3.7 per cent in early trade to $21, while Iluka Resources rose 14 per cent to a new two-year peak of $8.72.

The share price increases were even more pronounced across the junior end of town.

Australian Strategic Minerals and Northern Minerals both rose more than 40 per cent on Tuesday morning with both West Perth businesses having added more than 200 per cent to their value since the start of this year.

The likes of Arafura Rare Earths, Lindian Resources, St George Mining, Australian Rare Earths, Victory Metals and even major producer Lynas have also all more than tripled in value over the past 10 months.

China is responsible for about 90 per cent of the world’s processing of rare earth elements, which are a group of 17 elements that have extensive military and medical equipment applications.

The Trump administration is keen to break the US’ reliance on the China-dominated rare earths supply chain and is increasingly bringing Australian mining companies into the tent to establish a new world order.

The West Australian revealed last Monday that Prime Minister Anthony Albanese plans to offer President Trump priority access to Australia’s critical minerals and rare earths when the two leaders meet later this month.

Mr Albanese has also had talks with other strategic partners about access to Australia’s resources, including UK Prime Minister Keir Starmer and Canada’s Mark Carney.

Comments

Latest Edition

The Nightly cover for 14-10-2025

Latest Edition

Edition Edition 14 October 202514 October 2025

Israel embraces freedom as world braces for future.