White House officials say the government is not considering taking a stake in rare earth company Critical Metals

A White House official said on Monday that the Trump administration is not currently considering a deal that would give it a stake in Critical Metals Corp. Previous reports that Washington was considering taking a stake in the rare earth company sent its share price soaring.
The official said the government is in ongoing contact with the private sector and has received hundreds of deal proposals involving equity investments, but has not actively considered reaching a deal with the company with an interest in Greenland's largest rare earth project.
Critical Metals 'shares narrowed gains before trading suspended due to volatility.
Reports emerged on Friday that the U.S. government discussed the possibility of such a deal. The report and Critical Metals 'announcement that it had obtained a new institutional investor pushed its share price higher than 70%.