U.S. rare earth company surges over 10% as its first rare earth magnet production line becomes operational

Glonghui April 2 – U.S. Rare Earths Company rose more than 10%, leading U.S. stock rare earth concept stocks. United States Antimony and American Resources both increased nearly 7%, Rare Element Resources rose over 6%, while MP Materials and Critical Metals were up more than 2%. On the news side, U.S. Rare Earths Company announced that its first rare earth magnet production line in Stillwater, Oklahoma has been put into operation and will begin commercial shipments in April, with full-load annual capacity of 600 tons expected by the end of December. The company stated that by 2027, the plant’s capacity will be increased to 1,200 tons per year. In January this year, U.S. Rare Earths Company signed a non-binding agreement with the U.S. Department of Commerce for $1.6 billion in funding support, to be used for constructing mines to supply raw materials for magnet production. (Glonghui)