** Shares of St George Mining SGQ.AX rise 26.3% to A$0.0240, their highest level since February 20

** Stock set for its strongest session since August 12, 2024 - if current trend holds

** Diversified miner says its Araxá Project in Brazil offers a potential alternative source of supply for rare earths products

** Cites China's export restrictions on rare earths elements causing potential supply chain shock in the U.S. economy, others as reason

** About 57.8 million shares traded in stock's busiest session since February 27

** Stock down 2% YTD, including current session's moves

(Reporting by Manasi Dasa Sundeep in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com))