Shares of rare earth miners in Asia Pacific surged on Wednesday after Beijing made a veiled threat toward Washington regarding the materials.

In China, shares of JL Mag Rare-Earth skyrocketed around 10% while Innuovo Technology jumped 9.95%. Lynas in Australia — one of the few rare earth miners outside of China — saw its shares surge more than 15%.

The moves came after a Chinese official recently cautioned that products made from rare earth minerals should not be used against the country's development.

The comment, reported by CCTV, was taken as a thinly veiled threat aimed at the U.S. and its technology companies that are dependent on the materials. Chinese President Xi Jinping recently visited rare earth mining and processing facilities, adding to speculation that China could make the minerals more expensive or unavailable if the trade war continues to expand.

At present, China is the world's largest producer of rare earths, a critical component in the manufacturing of products ranging from smartphones to electric vehicles.