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Why MP Materials And Westwater Resources Are Trading Higher Today

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Why MP Materials And Westwater Resources Are Trading Higher Today

Westwater Resources Inc (NASDAQ: WWR) and MP Materials Corp (NYSE: MP) share are trading higher, on reports China looking to limit exports of rare earth minerals.

An industry watchdog released a draft rare-earth management rule on Friday, China's State Council will set up a coordination mechanism for rare-earth management, tasked with rare-earth policymaking, reports Global Times.

MP Materials focuses on restoring the full rare earth supply chain to the U.S. It owns and operates Mountain Pass, the only integrated rare earth mining and processing site in North America.

MP Materials shares were trading up 9.76% at $34.98 at publication time. The stock has a 52-week high of $40.74 and a 52-week low of $9.78.

Westwater Resources is an explorer and developer of mineral resources that are materials essential to clean energy production. It holds minerals rights in the Western United States and the Republic of Turkey for both lithium and uranium deposits, as well as licensed production facilities for uranium in Texas.

Westwater Resources shares were trading up 37.56% at $6.88. The stock has a 52-week high of $14.50 and a 52-week low of 25 cents.

 

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