STILLWATER, OK — USA Rare Earth Inc., an Oklahoma-based mining and manufacturing company, is developing a heavy rare-earths and critical minerals project at Round Top Mountain in West Texas along with a high-powered magnet manufacturing facility in Stillwater as part of a fully integrated domestic “mine-to-magnet” supply chain.
The company announced the projects to reduce U.S. dependence on foreign sources, particularly China, by mining heavy rare earths in Texas and producing permanent magnets for defense applications, electric vehicles and renewable energy. USA Rare Earth said it aims to be fully operational by 2027-2028.
The Trump administration took an equity stake in the company through the Commerce Department in January 2026, marking the first such government investment in heavy rare earths.
The Round Top mining and processing project is targeted to open by the end of 2028, roughly two years ahead of previous projections. USA Rare Earth’s acquisition of U.K.-based Less Common Metals provides additional processing and metal-making capacity outside China.
The company is focused on developing a complete domestic supply chain for rare earth elements, which are essential to multiple high-tech and strategic sectors.
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