Rare earth stocks rose in overnight trading.

The Metals Company up 4%; United States Antimony, USA Rare Earth up 3%; Critical Metals, Energy Fuels up 2%; MP Materials up 1%.

Critical Metals' (CRML) shares were up 21% on Thursday after the company said late Wednesday it entered into a memorandum of understanding with a Saudi Arabian firm to develop, own and operate a processing plant and refining facility for rare earth resources extracted from the Tanbreez Green Rare Earth Mine.

Critical Metals entered into four non-binding term sheets for the offtake from Tanbreez, a project in which the company currently owns a 42% equity interest.

The company will work with Tariq Abdel Hadi Abdullah Al-Qahtani & Brothers Company to establish one or more joint ventures, according to a regulatory filing. The refining facility will be located in Saudi Arabia.