Although 2026 has just begun, critical minerals have already become an increasingly prominent investment theme for growth investors. From rare earth enterprises to metal producers supplying foundational materials for advanced technologies, these companies are frequently appearing on investors’ radars.
Which mineral stocks hold the most potential for building robust personal wealth? Let’s take a look at several leading contenders.
USA Rare Earth (USAR) entered the public markets in March 2025 through a merger with a Special Purpose Acquisition Company (SPAC), aiming to become a vertically integrated supplier of rare earth magnets. The company’s Round Top deposit contains 15 of the 17 rare earth elements, including all heavy rare earth elements, which distinguishes it among U.S. rare earth firms.
Recently, USA Rare Earth signed a Letter of Intent with the U.S. government, which plans to invest $1.6 billion in equity into the company. This agreement mitigates some of the risks previously associated with the uncertainties surrounding the development of the Round Top project.
As U.S. policy focuses on strengthening the domestic rare earth supply chain and demand for rare earths is expected to remain strong, USA Rare Earth demonstrates considerable potential for patient investors as its vertically integrated business model gradually materializes. The company anticipates commencing commercial-scale production at its magnet manufacturing facility in the first quarter of 2026.
Unlike rare earth companies, The Metals Company (TMC) focuses on producing copper, cobalt, nickel, and manganese. While more common than rare earths, these metals are also crucial in sectors like defense and technology.
TMC plans to collect polymetallic nodules rich in copper, nickel, cobalt, and manganese from the seabed and transport them ashore for processing and refining. In June 2025, the company reached an agreement with Korea Zinc, a metals refining specialist, which, in addition to making an equity investment, will cooperate on refining the metals extracted from the polymetallic nodules.
Previously, there were doubts about TMC’s ability to obtain the necessary operating permits. An Executive Order issued in April 2025 provided support for the deep-sea mining industry, thereby reducing some of this uncertainty.
The demand for copper alone harbors immense growth potential. S&P Global forecasts that copper demand will increase by approximately 50% from current levels by 2040, but also notes that “due to numerous challenges faced by the mining industry in the copper value chain, existing supply is expected to decline in the coming years.”
Unlike many other U.S. startups involved in rare earth production, MP Materials (MP) is a domestic rare earth specialist that has already achieved mass production. The company describes itself as “America’s only fully integrated rare earth producer with full supply chain capabilities,” extracting neodymium-praseodymium (light rare earths) from its Mountain Pass asset in California and further processing them into alloys and magnets at its magnet production facility in Texas.
By mid-2026, MP Materials plans to launch a new heavy rare earth separation facility at Mountain Pass, expanding its product portfolio, which currently focuses mainly on light rare earths. Following a July 2025 agreement with the U.S. Department of Defense, the company secured over $500 million in funding to build a second domestic magnet manufacturing facility, expected to be operational by 2028.
This agreement also established a price floor for rare earths, shielding the company from extreme price volatility. This positive effect has already begun to materialize. During the Q2 2025 earnings conference call, CFO Ryan Corbett stated, “Starting in Q4, we will benefit from the DoD’s price floor agreement, with the first cash payments expected to arrive in Q1.”
Amidst the policy trend supporting domestic critical mineral supplies, rare earth companies and other metal specialists are facing development opportunities. For investors focused on rare earths, USA Rare Earth and MP Materials are solid choices; while more adventurous investors might favor the deep-sea miner The Metals Company.
For conservative investors, MP Materials stock represents a prudent choice, whereas USA Rare Earth and The Metals Company represent opportunities for higher risk and higher reward investments.
