The Elements of Innovation Discovered
The Elements of Innovation Discovered
Metal Tech News - March 13, 2025
USA Rare Earth begins trading on the Nasdaq under the ticker symbol USAR on March 14.
In a major inflection point on its quest to establish a domestic rare earths mines-to-magnets supply chain, USA Rare Earths Inc. has finalized a transaction that adds nearly $50 million to its coffers and elevates it to a public company with a ticker symbol on the Nasdaq.
"The recent news on tariffs and rising global geopolitical tensions are a wake-up call for America – we must build a domestic rare earth mineral and magnet supply chain here at home to support a wide range of critical technologies, including our national defense," said USA Rare Earth CEO Joshua Ballard. "I'm incredibly proud of this team as the closing of this transaction and our listing on Nasdaq is another key milestone in our evolution in building this supply chain."
USA Rare Earth Director of Magnet Operations Bob Fredette with a rare earth magnet produced at the company's Innovations Lab in Oklahoma.
With an enormous deposit of rare earths and other critical minerals at its Round Top project in Texas and a factory in Oklahoma that produced its first batch of rare earth magnets earlier this year, USA Rare Earth took significant strides toward building its envisioned mines-to-magnets supply chain as a private company.
To fund the scaling up of its Oklahoma magnet factory up to commercial production and further advance Round Top toward development, USA Rare Earth entered into a deal to become a publicly traded company through a merger with Inflection Point Acquisition Corp. II, a Nasdaq-listed company established for the purpose of merging with an enterprise in a disruptive growth sector.
That merger deal closed on March 13, and USA Rare Earth will begin trading on the Nasdaq under the trading symbol USAR on March 14.
"The public listing of USA Rare Earth marks a significant milestone for our company, our customers, and U.S. national security. The company's strategic vision to return the USA to domestic rare earth magnetic production is now one step closer," said Inflection Point Acquisition CEO Michael Blitzer, the new chair of USA Rare Earth. "We look forward to working closely with our experienced management team and shareholder and government constituents to build a strategic national asset."
In association with the listing, USA Rare Earth raised nearly $50 million through private investment in public equity (PIPE) contributions made by Inflection Point Acquisition and other investors affiliated with the merger.
"The additional capital raised will help propel us forward as we build one of the largest magnet facilities in North America to serve the wider neo (neodymium) magnet market, as well as develop our incredibly unique deposit at Round Top that, in my opinion, is a strategic national asset," said Ballard.
This mountain at Round Top hosts vast quantities of rare earths and other critical minerals.
USA Rare Earth's Oklahoma plant is expected to produce 1,200 metric tons of neodymium magnets during the first phase of commercial production, which is expected to be reached next year. The company plans to expand the facility's capacity to nearly 5,000 tons per year in future phases.
To complete its planned all-American neodymium magnet supply chain, the company also plans to develop a mine and processing plant at Round Top that will produce neodymium, praseodymium, and 13 other rare earths. The enormous deposit at this project southeast of El Paso also hosts significant quantities of lithium, gallium, and five other minerals deemed critical to America's economy, security, and clean energy ambitions.
This blend of minerals and metals needed to break the U.S.'s reliance on China for rare earths and neo magnets while also supplying minerals needed for EV batteries and high-tech devices is why Ballard considers Round Top a strategic asset for the now publicly listed USA Rare Earth and the nation as a whole.
With more than 17 years of covering mining, Shane is renowned for his insights and in-depth analysis of mining, mineral exploration, and technology metals.
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