According to Mining.com, Barbara Humpton, CEO of USA Rare Earth (USARE), revealed to CNBC that the company is in "close communication" with the White House.
In a CNBC interview on the 2nd, Humpton responded to speculation about the company's intention to reach an agreement with the White House. USARE did not immediately respond to Mining.com's request for comment.
Currently, the US government is intensifying efforts to secure a safe supply of strategic minerals.
In March, President Trump invoked emergency powers to boost domestic production of critical minerals.
Recently, the US government acquired a 5% stake in Lithium Americas and purchased a 5% share in the company's joint venture with General Motors, the Thacker Pass project, which is set to become the largest source of lithium in the Western Hemisphere.
In July, MP Materials (MPM), the sole US rare earth producer, announced a multi-billion dollar agreement with the government to expand domestic production of rare earth permanent magnets.
USARE is advancing a plan to expand the US rare earth permanent magnet supply chain. The company's sintered NdFeB magnet manufacturing plant in Stillwater, Oklahoma, is expected to commence commercial production in H1 2026. Upon reaching full production, it will have an annual capacity of 5,000 mt of permanent magnets, sufficient for millions of EV units.
Additionally, the company announced its intention to merge with Less Common Metals (LCM). LCM's 67,000-square-foot facility in Cheshire is capable of large-scale production of light and heavy rare earth permanent magnet metals and alloys.
