US Stock Market Move | American Resources (AREC.US) received $1.4 billion in financing cooperation from the US Department of Defense and its stock price surged over 37% in pre-market trading.

On Monday, the stock price of American Resources (AREC.US) rose in pre-market trading, with the stock up over 37% at $5.31 as of press time. On the news front, American Resources' subsidiary, ReElement Technologies, announced a joint financing cooperation with the Office of Strategic Capital (OSC) under the US Department of Defense, with a total of $1.4 billion aimed at accelerating the development of the domestic rare earth permanent magnet industry chain in the United States. The funds will focus on supporting the collaboration projects between ReElement and Vulcan Elements, with the goal of establishing a complete rare earth permanent magnet supply chain system in the United States, covering core processes such as rare earth element separation, metallization treatment, and permanent magnet manufacturing. According to the announcement, OSC will provide $620 million in funding to Vulcan Elements and $80 million to ReElement Technologies, both of which will be privately capitalized, achieving equal financing.