Shares of USA Rare Earth (NASDAQ: USAR), which looks to develop a domestic rare earth magnet supply chain, surged by 23% late on Thursday and another 14% in pre-trade on Friday after the company’s chief executive said USA Rare Earth is in “close communication” with the White House. The Trump Administration is increasingly looking to have a direct equity involvement in America’s critical minerals supply chain, in the race to close the gap with the world’s dominant holder of supply of critical metals and rare earth…
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