China’s Ministry of Commerce has begun designing a new rare earth license system that would speed up shipments, but this will unlikely amount to the complete rollback of restrictions Washington had hoped for, Reuters reports. China recently announced it would pause the restrictions imposed in October for one year following an agreement reached between Presidents Donald Trump and Xi Jinping, but made no mention of the broader controls introduced in April. China is working on the new license system, but this does not mean the earlier export controls will be removed. The Fly notes that companies involved in the development and mining of rare earth minerals include Nova Minerals (NVA), Ioneer (IONR), Lynas Rare Earths (LYSCF), MP Materials (MP), Energy Fuels (UUUU), NioCorp (NB) and VanEck Vectors Rare Earth/Strategic Metals ETF (REMX).
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVA:
- Trump Trade: China to suspend some controls on rare earths
- China to suspend some controls on rare earths in new deal with U.S.
- India to increase rare earth magents incentive plan to $788M, Bloomberg says
- Trump Weekly: Trump cuts China tariffs in deal on fentanyl, rare earths
- Trump Trade: Trump cuts China tariffs in deal on fentanyl, rare earths