USAR Secures $1.6 Bln Funding for Heavy Rare Earth Project Development

Published: Jan 27, 2026 15:27

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[SMM Flash: US Rare Earth Company May Secure $1.6 Billion to Develop Heavy Rare Earth Project] US Rare Earth Company (USAR) today reached a major agreement to accept financial assistance from the US Department of Commerce, amounting to $1.6 billion.
USAR stated that with this funding, it will accelerate its development pace across various stages, including rare earth mining, processing, metal refining, and magnet manufacturing. According to the plan, USAR will extract 40,000 mt of rare earth raw materials daily from its Round Top deposit, with commercial production expected to commence in 2028. Additionally, the company will process a total of 8,000 mt/year of third-party mixed rare earth concentrates, heavy rare earth elements, and critical mineral oxides at the Round Top plant, covering dysprosium, terbium, gallium, and nine other critical minerals. Furthermore, USAR plans to build facilities capable of processing 10,000 mt/year of rare earth metal alloys and rapid-quenched strips, increasing the annual NdFeB magnet capacity to 10,000 mt, with the ability to handle 2,000 mt/year of metal scraps generated during the magnet production process.

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