Invest in Critical Minerals Pre-IPO Companies
Critical Minerals is one of the six America 2030 sectors. China's grip on critical minerals is not in the ground, it is in the processing and refining. We invest where technology builds a durable business: the refining, magnets, and recycling that reshore the supply chain, and the robotics making extraction competitive.
Why now
The mineral doesn't matter until someone refines it.
Refining
China's dominance in critical minerals is concentrated in processing and refining, not in the ore itself. Reshoring that midstream layer is the harder, more durable problem.
Rare earths
The magnets in every motor, drone, and defense system depend on rare-earth processing the US barely controls. Domestic capacity is only now being built.
Critical minerals are the materials the US industrial base depends on and does not control: rare earths, lithium, cobalt, copper, and the magnets and metals made from them. The common assumption is that the problem is mining, getting the ore out of the ground. The harder problem, and the one China actually dominates, is the midstream: refining ore into usable metal, turning metal into magnets, and recycling it all back into supply. That processing layer is where the real bottleneck sits, and where domestic capacity and know-how build a durable advantage rather than a commodity. We invest there, in the refining, magnets, and recycling that reshore the supply chain, and in the robotics making extraction itself faster and more competitive. We back the parts of this sector where technology creates a lasting business, not just a claim on a commodity price.
Sub-sector map
Critical minerals, mapped from the ore to the magnet.
America 2030 tracks critical minerals across four clusters: magnets and materials, recycling, and extraction automation, all built around the one that decides who controls the supply chain, refining and processing.
Magnets & Materials
The rare-earth magnets in every motor and drone.
Recycling
Turning spent material back into domestic supply.
Extraction Automation
Robotics making extraction faster and more competitive.
Domestic Supply
Reshoring the materials the industrial base depends on.
Refining & Processing — where we lean in
China's dominance sits here, not in the ore. Reshoring the midstream is the durable position.
Company reports
The midstream, and the machines that feed it.
We invest where technology builds a durable business: the refining, magnets, and recycling that reshore the supply chain, and the robotics making extraction competitive.
Refining & processing, where we lean in
Phoenix Tailings
Zero-waste rare-earth refining, recovering NdPr, Dy, and Tb from mining tailings and clean feedstocks.
Research inside →ElementUSA
Recovers gallium, scandium, and iron from bauxite refining waste, reshoring metals the US barely produces.
Research inside →Magnets, materials & recycling
Vulcan Elements
US-made NdFeB rare-earth magnets for defense and commercial motors, breaking the import dependence.
Research inside →Redwood Materials
Domestic battery recycling and materials, turning spent cells back into domestic critical-mineral supply.
Research →Extraction automation
Impossible Metals
Autonomous robotic harvesting of seabed battery minerals, extraction with a lighter footprint.
Research →Durin
Automated drilling rigs streaming real-time geology, cutting the costliest phase of exploration.
Research inside →Lilac Solutions
Ion-exchange lithium extraction, unlocking domestic lithium from brine faster and with less land.
Research inside →How to get exposure
Two ways in.
America 2030
Get diversified exposure
Gain exposure to Critical Minerals alongside the other five America 2030 sectors, Defense, Energy, AI Infrastructure, Robotics, and Space, through a single allocation to America 2030, a series of IPO CLUB II LLC. This is the route open today.
Explore America 2030 →Single-Name SPVs
Back one company directly
When a critical minerals allocation opens, members can take a concentrated position in a single company through a dedicated SPV. No critical minerals single-name is open right now; members are notified inside the Data Room when one is.
Enter the Data Room →Research
Go deeper on critical minerals.
Member reports · in the Data Room
Resilience Capital Stack →
How the six America 2030 sectors fit together, from critical minerals and refining to advanced nuclear. February 2026. Read in the Data Room.
All critical minerals research →
Refining, magnets, recycling, and extraction automation: our coverage and theses, inside the Data Room.
FAQ
IPO CLUB gives accredited investors and qualified purchasers access to private critical minerals companies, spanning rare-earth refining, magnets, recycling, and extraction automation, through America 2030, a diversified fund across six sectors, and through single-name SPVs when an allocation is open. Becoming a member is free; the next step is registering interest inside the Data Room.
- Coverage spans refining and processing, magnets and materials, recycling, and extraction automation.
- Access is available through America 2030 or single-name SPVs when open.
- Membership is free; live deal access requires accredited investor or qualified purchaser status.
The dependence in critical minerals is not mainly in the ground, it is in the midstream: refining ore into usable metal, turning metal into magnets, and recycling material back into supply. That processing layer is where China's dominance is concentrated, and where domestic capacity and know-how build a durable advantage. We favor the parts of the sector where technology creates a lasting business, refining, magnets, recycling, and extraction automation, rather than exposure that ultimately tracks a commodity price.
- The bottleneck is processing and refining, not raw extraction.
- Midstream capacity builds durable advantage; raw ore is a commodity.
- We back refining, magnets, recycling, and extraction automation.
Rare-earth magnets, especially NdFeB magnets, are in nearly every electric motor, drone, missile, and defense system. The US produces very few of them domestically and depends heavily on imports for both the magnets and the refined rare earths they are made from. Building domestic magnet and refining capacity is a strategic priority, which makes it one of the highest-leverage areas in the entire critical minerals supply chain.
- Rare-earth magnets are essential to motors, drones, and defense systems.
- US domestic production of magnets and refined rare earths is minimal.
- Reshoring magnet and refining capacity is strategically critical.
Our critical minerals coverage centers on the midstream and the technology around it: refining and processing (Phoenix Tailings, ElementUSA), magnets and materials (Vulcan Elements), recycling (Redwood Materials), and extraction automation (Impossible Metals, Durin, and lithium-extraction innovator Lilac Solutions).
- Refining and processing: Phoenix Tailings, ElementUSA.
- Magnets and recycling: Vulcan Elements, Redwood Materials.
- Extraction automation: Impossible Metals, Durin, Lilac Solutions.
Many of the companies building domestic rare-earth refining and magnet capacity are still private, including Vulcan Elements and Phoenix Tailings. IPO CLUB covers them and provides access for accredited investors through America 2030 or single-name SPVs when an allocation is open. We concentrate on the refining and magnet layer, where reshoring builds a durable business.
- Leading rare-earth refining and magnet companies remain private.
- Access is available to accredited investors via America 2030 or SPVs when open.
- We focus on the refining and magnet midstream, not raw extraction.
Extraction is one of the most capital- and labor-intensive parts of the minerals supply chain, and robotics is beginning to change its economics. Automated drilling, robotic harvesting, and advanced extraction technology can make domestic and allied projects more competitive against lower-cost foreign supply. We back the companies applying automation to extraction as a durable efficiency edge, not a one-time gain.
- Extraction is capital- and labor-intensive; automation changes the cost curve.
- Robotics can make domestic and allied projects more competitive.
- We treat extraction automation as a lasting efficiency advantage.
A single-name SPV gives concentrated exposure to one company, so the outcome depends entirely on that company. America 2030 spreads exposure across many companies in Critical Minerals and five other sectors, Defense, Energy, AI Infrastructure, Robotics, and Space, trading concentration for diversification. No critical minerals single-name is open right now; America 2030 is the route open today.
- Single-name SPVs concentrate risk and return in one company.
- America 2030 spreads exposure across Critical Minerals and five other sectors.
- Neither approach removes the underlying illiquidity and loss risk of private investing.
Pre-IPO investments are speculative, illiquid, and involve the risk of total loss. Critical minerals companies carry added exposure to commodity prices, long project and permitting timelines, heavy capital requirements, and dependence on policy and offtake agreements. These investments are suitable only for accredited investors and qualified purchasers who can bear a complete loss of capital.
- Pre-IPO investments are speculative, illiquid, and can result in total loss.
- Minerals add commodity-price, permitting, capital-intensity, and policy risk.
- Suitable only for accredited investors and qualified purchasers who can bear a complete loss.
America 2030 has a minimum investment of $50,000. Minimums for single-name SPVs vary by deal, depending on availability and secondary supply at the time, and are confirmed inside the Data Room for each live allocation.
- America 2030 minimum investment: $50,000.
- Single-name SPV minimums vary by deal and are confirmed inside the Data Room.
- Availability is subject to secondary supply at the time of investment.
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