Energy Fuels, a South Korean automaker, has approved rare earths for commercial use, targeting large-scale rare earth magnet production by the end of 2026. Rare earth magnets are crucial for defense, automakers, and renewable technology. Energy Fuels’ stock surged 11.7% on this news, with plans to start production of various rare earth elements. South Korea and the U.S. are seeking alternative rare earth sources, with Energy Fuels making significant progress in this area. The company aims to have large-scale production capacity for rare earth elements by 2026, making it a stock to watch.

Read more at Nasdaq: Why Energy Fuels Stock Popped on Friday (Hint: It’s a Rare Earths Breakthrough)