CRITICAL METALS CORPORATION (CRML) saw its stock price soar 5.62% during intraday trading on Friday, as the rare earth sector experienced broad-based gains.

The rally in rare earth stocks was fueled by news that American Resources, through its minority stake in ReElement Technologies, entered a joint venture with POSCO International to build an integrated rare earth refining and permanent magnet manufacturing operation in the United States. The project targets a $200 million investment to establish an end-to-end supply chain from feedstock sourcing through separation and refining to magnet production, with final site selection underway.

This development has generated optimism across the rare earth industry, with several companies including Critical Metals benefiting from the positive sentiment towards the sector's growth prospects.