Key Points
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TMC The Metals Company is focused on deep-sea mining for polymetallic nodules in the Pacific Ocean, containing critical metals for battery production.
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MP Materials operates the Mountain Pass mine in California, the only large-scale rare-earth mine in the U.S., and received a $400 million investment from the Department of Defense in July 2025.
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USA Rare Earth controls the Round Top Mountain deposit in Texas, aiming to create a domestic rare-earth supply chain, and raised $3.1 billion for mine development.
TMC The Metals Company (NASDAQ: TMC) plans to harvest and process underwater nodules rich in nickel, cobalt, copper, and manganese for battery-grade metals. The company has faced delays awaiting a mining code from the U.N.’s International Seabed Authority but may benefit from new U.S. government initiatives. MP Materials (NYSE: MP) plays a crucial role in the U.S. rare-earth supply chain and processed significant investment from the government and partnerships with private entities. USA Rare Earth (NASDAQ: USAR) aims to establish a domestic supply chain for rare-earth metals and has secured substantial funding for future operations.
Investors should note that all three companies are currently pre-revenue and focusing on long-term growth in a volatile market. With the U.S. government’s push for domestic resource independence, these companies could play pivotal roles in the global mining industry moving forward.
