Siemens Gamesa last month signed a deal with Australia's Arafura Rare Earths to procure 200 tonnes of materials a year.

The agreement was inked in Rome on the occasion of the Angolan President's state visit to Italy.

Vast US government spending powers unleashed through the Inflation Reduction Act and Defense Production Act are intended to kickstart a made-in-America green industrialization effort.

Macron added that the two countries would cooperate on renewable energies and nuclear.

Ramaco Resources, a pure play met coal miner with operations in West Virginia and Pennsylvania, has discovered new potential magnetic rare earth elements at its Brook mine.