The Trump administration plans to divert funding from the CHIPS Act to support key mineral projects.

According to the Wisdom Finance APP, two informed sources revealed that the Trump administration is considering reallocating at least $2 billion from the "CHIPS Act" for critical mineral project financing, and expanding the influence of US Commerce Secretary Lutnick in this area. After the news was announced, the rare earth concept sector of the US stock market saw a short-term rise on Thursday, with American Resources (AREC.US) rising over 9.8%, Energy Fuels (UUUU.US) rising over 10%, USA Rare Earth (USAR.US) rising over 7%, and Perpetua Resources (PPTA.US) rising over 4.8% by the close of trading.