The White House plans to review gaps in domestic manufacturing and supply chains that are dominated by or run through “nations that are or are likely to become unfriendly or unstable,” CNBC reported.

"The government wants to know if the US may have trouble making F-35 fighter jets if China imposes an export ban," the FT reported.

The company already signed a non-disclosure agreement towards an initial 1,500-tonne-per-year offtake agreement for titanium metal powder.

General Motors, Ford Motor and Stellantis have all announced plans to manufacture electric vehicles in Canada.

Trudeau said it was important to have “a secure supply from a friend and an ally”, noting Canada has many of the rare earths minerals needed for car batteries and solar panels.

The company is developing the Round Top rare earths deposit in Texas.