Shares of Nova Minerals (NVA) doubled after the Trump administration requested briefs on its Estelle Gold and Critical Minerals Project in Alaska. The site holds over 9.9 million ounces of gold worth $41 billion. Other mining companies like Fortescue Metals and Rio Tinto also saw gains in premarket trading.

Nova Minerals received a $43.4 million investment from the Department of Defense to develop domestic antimony sources. This aligns with the Trump administration’s focus on the US domestic supply chain of critical minerals and metals, leading to investments in various mining companies like MP Materials, Trilogy Metals, and Lithium Americas.

China’s control over global lithium refining capacity has sparked concerns as the US administration intensifies its focus on critical minerals supply chains. The market for cobalt has tightened, with prices surging due to export controls by the Democratic Republic of Congo. Gold and silver prices have soared amid geopolitical tensions and market uncertainty.

President Trump’s threat of 100% tariffs on China in response to new export bans on critical minerals led to stock market fluctuations. China’s dominance in lithium refining has raised concerns, while cobalt prices surged due to export controls. Gold and silver prices have skyrocketed in 2025 amidst geopolitical tensions.

Read more at Yahoo Finance: Nova Minerals stock soars after announcing White House interest in Alaska mining project