Rio Tinto (ASX: RIO) and BHP Group (ASX: BHP) are the shares to watch this week. The two miners joined more than 200 other executives and policymakers for a key critical minerals meeting with US President Donald Trump.
Subsequently, the Trump mining policy shift is made with billions of dollars hard on critical minerals. Money at that scale ripples through supply chains for years. Analysts already reckon both ASX 200 miners are sitting pretty.
Figure 1: BHP and Rio Tinto critical minerals focus [Courtesy: SteelRadar]
Trump Mining Policy Shift Takes Shape At Washington Meeting
Rio Tinto and its biggest domestic rival BHP were at the table among a range of others. The roundtable was hosted by Trump at the State Department in Washington on 07 Aug 2026 and drew over 200 mining executives, educators and politicians. Strip away the diplomatic talk and the point was blunt: stop leaning on Chinese mineral supplies.
Trump did not hold back, saying the US is “reclaiming America’s rightful place as the minerals superpower of the world.” Thousands of jobs would follow, by his account. It is one piece of a much bigger plan to break away from China on critical minerals.
Figure 2: US President Donald Trump outlines new measures to support domestic mining and critical minerals projects. [Courtesy: The Oregon Group]
US$3 Billion Critical Minerals Package
- US Government committed US$3 billion to critical minerals and battery projects
- Sila Nanotechnologies received a US$1.4 billion conditional loan for battery parts
- Sunrise Energy Metals secured US$400 million for its New South Wales scandium project
- Niron Magnetics was granted a US$150 million conditional loan for magnet production
- US Export-Import Bank added US$58 million across Westwater Resources, Global Advanced Metals and 5E Advanced Materials
Executives And Officials In Attendance
- MP Materials, Lithium Americas and NioCorp attended the roundtable
- Energy Fuels, USA Rare Earth and US Antimony were also present
- Interior Secretary Doug Burgum and Commerce Secretary Howard Lutnick joined the discussion
- MP Materials CEO Jim Litinsky gave Trump magnets made for General Motors
- American Ocean Minerals chairman Tom Albanese presented a gold seabed nodule replica
Why This Matters For The Rio Tinto Stock Surge Outlook
China’s grip on this market is hard to ignore. It still refines over half the world’s critical minerals, built up over years of investment Washington is only now trying to match. Beijing tightened that advantage last year, restricting rare earth exports that feed EVs and defence gear.
Rio Tinto’s mix of iron ore and copper puts it in a solid spot for what is coming. Copper alone goes into EV batteries, defence equipment and solar infrastructure, and demand keeps climbing. This has helped drive renewed interest in the Rio Tinto stock surge outlook.
Figure 3: Critical minerals gain renewed attention as the US seeks to diversify global mineral supply chains. [Courtesy: Mining Frontier]
How The Policy Shift Could Play Out
The Trump administration previously launched a US$12 billion strategic minerals stockpile. It has also backed equity stakes in US mining and processing companies. The Department of Energy pledged US$100 million toward mining education programs. This aims to double mining-related graduates within two years.
Analysts expect further announcements as Washington works to secure supply chains. Copper prices have also traded near record highs amid tight global supply. Markets are separately weighing possible US tariffs on refined copper imports. This copper backdrop adds another factor to the Rio Tinto stock surge outlook and BHP stock surge outlook.
Rio Tinto And BHP Share Price
| Metric | Rio Tinto (ASX: RIO) | BHP (ASX: BHP) |
|---|---|---|
| Last Price | A$178.260 per share | A$63.570 per share |
| Market Capitalisation | A$66.06 billion | A$319.97 billion |
| 52-Week Range | A$111.550 to A$195.840 per share | A$39.300 to A$65.980 per share |
| Dividend Yield | 3.7%, fully franked | 3.1%, fully franked |
Industry Outlook
The rare earth metals market continues to grow as electrification and defence budgets increase. More than half of the global supply, however, is still concentrated in processing in China. Growing US investment could gradually shift refining capacity toward allied nations over time.
The prices for critical minerals had a strong run through 2025 and peaked into 2026, with prices for copper hitting an all-time high along the way. The demand for energy minerals (copper, lithium and rare earths) grew at almost 10 per cent a year, significantly above base metals. It is still bottlenecked in refining, too. One single supplier, China, controls over 70 per cent of global output.
Future Direction and Impact on Rio Tinto and BHP’s Growth Strategy
Continued US investment could support long-term demand for copper, lithium and rare earths. This may benefit Rio Tinto and BHP as key global suppliers of these commodities. The Trump mining policy shift signals a multi-year push to rebuild domestic capacity.
Investors tracking the Rio Tinto stock surge outlook should watch further US policy announcements. The BHP stock surge outlook may also depend on copper tariff decisions expected later this year. ASX Mining companies remain sensitive to Washington’s next moves.
ALSO READ:
St George Mining Reports Record Drill Results at Araxá Project
FAQs
Q1. What happened with Rio Tinto and BHP shares this week?
Ans. Rio Tinto and BHP shares moved higher after executives met President Trump on critical minerals policy.
Q2. Why does the Trump mining policy shift matter to investors?
Ans. It means the US is putting real money, billions of dollars, into mining less reliant on China.
Q3. Which US officials attended the critical minerals meeting?
Ans. Interior Secretary Doug Burgum and Commerce Secretary Howard Lutnick were among those present.
Q4. Is now a good time to buy Rio Tinto or BHP shares?
Ans. That is a call only you and your advisor can make. What we can say is both stocks are trading near their 52-week highs, so the market has already priced in a fair bit of optimism.
Disclaimer
This article is meant only for informational purposes. If you are an investor who is watching Rio Tinto and BHP closely, all the data published in the content is sourced from ASX announcements and external sources. Kindly verify all the information related to the share price and market data. Any investment should be made at the investor’s own risk. Colitco does not hold any position in the above-mentioned companies.
Source
- https://www.fool.com.au/2026/08/10/buying-rio-tinto-and-bhp-shares-heres-why-the-asx-mining-giants-just-met-with-donald-trump/
- https://www.reuters.com/business/aerospace-defense/trump-host-mining-ceos-administration-seeks-minerals-defense-supply-chains-2026-08-07/
- https://www.investors.com/news/copper-price-trump-tariffs-loom-bhp-rio-fcx-mining-stocks-buy-points/
- https://www.iea.org/reports/global-critical-minerals-outlook-2026/outlook#abstract
- https://www.asx.com.au/markets/company/BHP
- https://www.asx.com.au/markets/company/RIO
Elizabeth Jones is a finance and mining content specialist with over 10 years of experience creating clear, SEO-driven content across fintech, investing, banking, insurance, cryptocurrency, and resource markets. She transforms complex financial data and industry trends into engaging, reader-focused articles that improve understanding and audience engagement.
