US Government Not Weighing Stake in Critical Metals Corp.

The White House has denied that the US government is considering acquiring a stake in Critical Metals Corp., a rare earth elements company. This statement came in response to a report that suggested Washington was contemplating such a move, which had caused the company's stock to surge. The White House official clarified that the administration is not currently weighing a deal to take a position in Critical Metals Corp. This announcement aims to provide clarity and dispel any speculation surrounding the government's potential involvement in the rare earths industry. Rare earth elements are crucial for the production of various high-tech products, and the US has been seeking to reduce its reliance on foreign sources, particularly China, for these strategic materials. However, the White House has not indicated any immediate plans to directly invest in or acquire a stake in a domestic rare earths company at this time.