Overview
- Ceo Lourenco Goncalves said reviews of ore bodies and tailings basins identified two sites with signs of rare earth mineralization.
- He framed the initiative as an opportunity and a responsibility to support U.S. self-sufficiency in critical materials and reduce reliance on China.
- The company has not disclosed which rare earth elements are present and has provided no production timeline.
- Management said geologists are assessing whether the deposits could be commercially viable.
- Following the announcement, CLF closed up about 21% at $16.18 after an intraday peak near $16.70, according to Benzinga Pro.