If rare earths are the new oil, then JPMorgan is trying to be both Exxon and the Pentagon at once. The real test will be whether they build enduring capacity or simply ride the rally until the narrative changes. Right now the market is pricing in a Minerals Cold War that may have just begun. The question for investors is who will still be holding the strategic metals when the noise dies down, because control of the elements means control of the future...
If rare earths are the new oil, then JPMorgan is trying to be both Exxon and the Pentagon at once. The real test will be whether they build enduring capacity or simply ride the rally until the narrative changes. Right now the market is pricing in a Minerals Cold War that may have just begun. The question for investors is who will still be holding the strategic metals when the noise dies down, because control of the elements means control of the future...