USA Rare Earth Inc.'s stock soared 5.15% during intraday trading on Friday, reflecting strong positive investor sentiment toward the company.
The surge appears to be driven by news that American Resources, through its minority stake in ReElement Technologies, has entered a joint venture with POSCO International to build an integrated rare earth refining and permanent magnet manufacturing operation in the United States.
The project targets a $200 million investment to establish an end-to-end supply chain from feedstock sourcing through separation and refining to magnet production, with final site selection currently underway. Phase 1 is slated for 2028 with about 3,000 metric tons per year of separated rare earth oxides, followed by a 2030 expansion to about 6,000 metric tons per year.