Shares of USA Rare Earth jumped successful extended trading Thursday, aft CEO Barbara Humpton told CNBC that the uncommon world miner is "in adjacent communcation" with the White House.
Humpton's remark comes aft the Trump medication took a 5% equity stake successful Lithium Americas this week. The Defense Department took a 15% stake successful uncommon world miner MP Materials successful July.
"We are successful adjacent connection with the administration," Humpton told CNBC's Morgan Brennan erstwhile asked whether USA Rare Earth was funny successful a woody with the Trump administration.
USA Rare Earth banal twelvemonth to date.
USA Rare Earth shares were past up astir 6% aft hours. Its banal gained 23% successful regular trading Thursday and has astir doubled this year.
"This is simply a tract wherever it volition not beryllium a zero sum game," Humpton said of the uncommon world proviso chain. "It's going to instrumentality a batch of players to physique retired this marketplace."
USA Rare Earth is processing a excavation successful Sierra Blanca, Texas, and a magnet accumulation installation successful Stillwater, Oklahoma. Humpton said she supports the Trump administration's deals with MP and Lithium Americas.
"What we're doing is keeping the medication informed of our ain plans," she said.
The adminstration has said it is making the investments to assistance enactment the manufacture and interruption U.S. dependence connected China.
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