Cleveland-Cliffs, Inc. (NYSE:CLF) third-quarter earnings call highlighted a new strategic direction: the company is actively exploring the potential of rare earth minerals within its mining operations. 

The news sent shares surging, as investors took stock of Cleveland-Cliffs' move to diversify its resource base and possibly enter the high-value, geopolitically strategic market segment.

CLF stock is climbing. See the real-time price action here. 

Rare Earth Supply

The growing demand for rare earth elements, critical for advanced manufacturing, electronics and energy technologies, has put a spotlight on supply security in North America. 

China recently announced sweeping export restrictions on rare earth elements and the Trump administration is accelerating efforts to boost U.S. strategic independence in critical minerals. 

Read Next: USA Rare Earth, Critical Metals Stocks Explode—JPMorgan Adds Fuel To The Fire

These include direct equity stakes in American and allied rare earth mining firms, establishing a domestic strategic mineral reserve and the implementation of price floors to counteract Chinese ...