From Reuters, January 25:
- Funding package to help develop mine, magnet facility
- Deal to be announced on Monday, investor call planned
- Latest investment by Trump admin into minerals sector
The Trump administration is taking a 10% stake in USA Rare Earth as part of a $1.6 billion debt-and-equity investment package aimed at helping the company develop a domestic mine and magnet facility, two sources familiar with the deal told Reuters.
The deal and a separate $1 billion private investment will be unveiled on Monday and Oklahoma-based USA Rare Earth will host a morning conference call with investors to discuss the terms, according to one of the sources who was briefed on the plans.
The White House did not immediately respond to a Reuters request for comment. USA Rare Earth declined to comment.China is the largest global processor of rare earths, a group of 17 minerals used to make a range of electronics and military equipment. The U.S. produces only small volumes of rare earths, which has sparked a push in recent years from Washington to increase output.
USA Rare Earth has been developing a mine in Sierra Blanca, Texas, with Texas Mineral Resources that is slated to open by 2028 and has a magnet manufacturing facility in Stillwater, Oklahoma, that is expected to launch later this year....
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