08:55 AM EDT, 10/03/2025 (MT Newswires) -- USA Rare Earth ( USAR ) surged in premarket trading Friday after Chief Executive Officer Barbara Humpton told CNBC that the company is in "close communication" with the White House.

Shares of the company were up more than 12% in Friday's premarket activity.

"We are in close communication with the administration," Humpton told CNBC.

Humpton told CNBC it supports the Trump administration's efforts to bolster domestic rare earth production, including deals with MP Materials and Lithium Americas.

She added that USA Rare Earth ( USAR ) is keeping the administration updated on its plans, including its Texas-based mine and magnet facility in Oklahoma, according to the report.

"This is a field where it will not be a zero-sum game," Humpton told CNBC. "It's going to take a lot of players to build out this marketplace."