USA Rare Earth Inc. (USAR) saw its stock price surge by 5.02% during the intraday session on Wednesday, outperforming the broader market. The rally was part of a sector-wide uptick in rare earth shares, with Critical Metals Corp. leading the gains at 10%, followed by UAMY at 6%, MP Materials at approximately 3%, and The Metals at 2%.
The positive momentum in the sector was fueled by news that Critical Metals Corp. has approved the start of construction for a multi-use storage and pilot plant facility in Greenland. This facility, scheduled for completion by May 2026, is expected to support the development of the Tanbreez rare earth and critical metals project. The project's progress is seen as a significant step forward for the rare earth sector, contributing to the bullish sentiment surrounding companies like USA Rare Earth Inc.
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