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.

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A three judge panel found the Commerce Department and Trump properly applied a Cold War-era trade law in imposing the tariffs.

The principal contributors to metal production were gold (38%), copper (27%), iron ore (15%) and zinc (6%).

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

The company says that Graphite Creek in Alaska is the highest grade and largest known large flake graphite deposit in the US.

The board also appointed CFO Kathleen Quirk as president.