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Rare-earth stocks have surged, returning to the Wall Street spotlight on Monday after the Trump administration announced a partnership with another company in the sector — an industry it deems vital to national security.
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Trump administration’s latest deal is with USA Rare Earth USAR. The Oklahoma-based company announced Monday a letter of intent with the U.S. Department of Commerce and collaboration with the U.S. Department of Energy for access to $1.6 billion in funding, including nearly $300 million in federal funding and $1.3 billion in a loan under the Chips Act.
