Mining companies chase US listings with defence pitch

AT least 18 mining companies have completed or are pursuing dual US listings this year, a sharp increase from three in 2025, as producers of critical minerals reframe their investment pitches around defence applications rather than traditional supply-demand fundamentals, Reuters reported.The companies, mostly Canadian and Australian with some US startups, range in value from roughly $25m to $7.5bn. Listings have brought producers of antimony, rare earths, tungsten and uranium to the NYSE and Nasdaq — minerals the Pentagon designates as strategic for use in fighter jets, missiles and radar systems, the newswire said.Guardian Metal Resources, which has received $6.2m in Pentagon funding and applied for at least $100m more, said its goal was to cover direct defence demand for tungsten, estimating US military annual consumption at 2,000 to 3,000 tons. United States Antimony secured a $245m Defence Logistics Agency contract to supply antimony for the defence stockpile.The shift follows a series of supply disruptions. China imposed export controls on antimony in August 2024 and a ban on tungsten in 2025, while Washington has also faced cobalt export restrictions from the Democratic Republic of Congo. By December 2025 the US military had begun testing small-scale critical minerals refineries.Private capital has followed policy. JP Morgan said in October it could invest up to $10bn in sectors tied to national economic security, while President Donald Trump launched a $12bn strategic minerals stockpile initiative in February.“There’s absolutely a lot of money going into defence-driven exploration, but a lot of it is also very speculative right now,” said Rick Werner, co-chair of capital markets at law firm Haynes Boone.The post Mining companies chase US listings with defence pitch appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com