Overview

• Public documents show planned buys of up to $500 million in cobalt, $245 million in antimony, $100 million in tantalum, and $45 million in scandium, with named counterparties including United States Antimony, Rio Tinto and APL Engineered Materials.
• Australia is consulting miners on a proposed A$1.2 billion critical‑minerals reserve that would use tools such as offtake agreements and price floors ahead of Prime Minister Anthony Albanese’s Oct. 20 meeting with President Donald Trump.
• Shares of U.S. rare‑earth miners jumped in early trading as investors reacted to the stockpiling push and trade tensions, and JPMorgan said it would invest up to $10 billion in firms deemed important to national security.
• President Trump threatened to impose a 100% tariff on Chinese goods and restrict exports of critical software, then signaled a softer tone on Sunday, while Beijing defended its controls as lawful and said qualifying export applications could be approved.
• Analysts caution that requested volumes for some metals exceed U.S. production and imports and that the DLA is also weighing acquisitions of tungsten, bismuth and indium, raising questions about timelines, storage and supply‑chain strain.