Lynas Falls Following Historic Critical Minerals Agreement
Lynas Rare Earths (LYC) fell approximately 8% on Thursday after the Trump administration and Federal Labor government announced a historic critical minerals deal.
The stock initially gapped higher at the opening but reversed over 12% from its early high as sellers took control, despite the deal being described as a
"shot in the arm" for the industry.
The pact, finalized on Monday during Albanese's trip to Washington, signals a new approach for miners to raise capital and highlights the heightened geopolitical tensions between the US and China, particularly with Beijing imposing export controls on rare earths, crucial for advanced technology, batteries, chips, and defense equipment.
Author's summary: Lynas Rare Earths fell 8% after a critical minerals deal.