Shares of USA Rare Earth climbed sharply Friday after its chief executive said the company was engaged in "close discussions" with the White House, fueling expectations of a potential supply deal under the Trump administration's critical minerals strategy.
The stock rose 10% in premarket trading, building on a nearly 98% gain since the start of the year, according to Reuters. Chief executive Barbara Humpton made the comments during an interview with CNBC late Thursday, when asked about the company's interest in working with the administration on domestic mineral production. USA Rare Earth has not yet issued a formal statement on the report.
