The US has more of the minerals it worries about than its import numbers suggest. The hard part is turning deposits into mines.
Latest signals
- September 29, 2026 · SupplyUSGS maps 1,271 US critical-mineral deposits
Updated database covers 59 critical minerals across 41 states and Puerto Rico; 412 deposits have documented resources but no past production. Nine of the ten highest-risk minerals occur in the US.
Source: USGS - September 23, 2026 · PolicyGlencore gets $500M EXIM backing for a US minerals reserve
A $500M EXIM commitment backs VaultCo, a public-private vehicle through which Glencore will source and deliver critical minerals into a US strategic reserve.
Source: Reuters - September 22, 2026 · Export controlsChina's rare-earth exports to Japan stay at zero
August 2026 exports of controlled rare-earth compounds remained well below pre-control levels; Japan received none for a third straight month while magnet exports largely recovered.
Source: Silverado Policy Accelerator - September 18, 2026 · PricesGallium and germanium hit record prices outside China
Three years after China's curbs, ex-China prices sit at 9–10x 2023 levels. China supplied 98.9% of primary gallium in 2025; S&P Global sees a ~678 t ex-China gallium gap.
Source: Reuters
Market movers
Change over the latest week, in local currency, to October 8, 2026. Not investment advice.
- Cleveland-Cliffs CLF+7.0%
- Centrus Energy LEU+3.7%
- Alphamin Resources AFM.V+3.6%
- 5E Advanced Materials FEAM−18.6%
- AXT Inc AXTI−13.8%
- Almonty Industries ALM−9.9%
Supply chain spotlight: Manganese
China mines 4% of the world's manganese, but its share reaches 95% at the refining step, a gap of 91 points. New mines elsewhere do little for supply security if the material still has to be processed in one country.
See every step for manganese