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Highlights
ASX-listed rare earths stocks have gained significantly in the recent past.
The companies have racked up gains after Western countries decided to secure supplies of these metals outside of China.
Australia is known to have a huge potential for the production of rare earths.
The ASX-listed companies, which are focused on exploration and production of rare earths, have performed well in the last few months. The spike in these ASX rare earth stocks can be attributed to Western countries’ decision of securing supplies outside of China.
Australia is known to have a huge potential for the production of rare earths. The mineral-rich country produced 20,000 tonnes of these metals in 2020, accounting for a lion’s share of the total global production of 240,000 tonnes that year.
Here we discuss three ASX-listed rare earth shares which have given over 60% returns in the past year:
American Rare Earths Ltd (ASX:ARR)
American Rare Earths Ltd is focused on the development of critical high-value scandium and rare earths in the US. Shares of American Rare Earths have given a return of over 193% as of 11:15 AM (AEST), 27 June 2022. The stock has risen over 38% on a year-to-date (YTD) basis. However, in the past month, the shares have fallen nearly 31%.
RELATED ARTICLE: How is Australia reinforcing position in rare earths market?
American Rare Earths, last week, released assay results, which showed an exciting future for the company. A total of 332 samples out of 667 samples from American Rare Earths’ Arizona-based La Paz project, had rock-type in association with higher rare earth grades.
Arafura Resources Ltd (ASX:ARU)
ASX-listed mineral explorer Arafura Resources is focused on rare earth elements. Shares of Arafura Resources have given a return of over 121% as of 11:15 AM (AEST), 27 June 2022. The stock has risen nearly 35% on a YTD basis. In the past month, the shares have fallen over 18%.
The company’s flagship Nolans Project is based out of the Northern Territory. In May, Arafura’s stock was in news after it sealed an offtake agreement with Hyundai Motor Company.
Lynas Rare Earths Ltd (ASX:LYC)
Lynas Rare Earths is focused on the processing and extraction of rare earth minerals. Shares of Lynas Rare Earths have given a return of over 66% as of 11:15 AM (AEST), 27 June 2022. The stock has fallen over 17% on a YTD basis. In the past month, the shares have fallen nearly 3%.
RELATED ARTICLE: Why is Lynas Rare Earths Limited (ASX:LYC) up 13% in two days
Lynas Rare Earths, which is notably the world’s second-largest producer of rare earths, last week announced bagging a deal of AU$174 million by the United States Department of Defence. According to the contract, Lynas Rare Earths would help in building commercial heavy rare earths separation facility in Texas.
