Rare earth stocks extended rally on Thursday. USA Rare Earth up 21%; The Metals, Critical Metals up over 17%; NioCorp up 16%; UAMY up 12%; MP Materials up 8.6%.

USA Rare Earth stock rose 20.75% Thursday after the company announced it has selected Fluor Corp and WSP Global Inc as its Engineering, Procurement and Construction Management (EPCM) partners for its Round Top Rare Earth Project in Texas.

The company said the selection of these globally recognized leaders in mining and infrastructure will help accelerate the path toward commercial production of heavy rare earth oxides, currently targeted for late 2028. The partners will advance the Definitive Feasibility Study (DFS) for the project located in Sierra Blanca.

Critical Metals's stock surged over 17% during intraday trading on Thursday, extending its recent upward momentum.

The rally follows several positive developments for the company. Independent analysts have confirmed that its Tanbreez mine in Greenland can consistently produce rare earths oxide at concentrate grades above 3%. Strategically, the company has signed a memorandum of understanding to establish a rare earth processing joint venture in Saudi Arabia and has entered four non-binding term sheets for offtake from the Tanbreez project, signaling future revenue streams.