USA Rare Earth Breaks Ground on $1.2B Magnet Plant in South Carolina
USAR sits 51% above its 52-week low of $11.45 on light trading volume (0.2× avg).
Summary
USA Rare Earth broke ground on an 800,000 sq ft rare earth metal and magnet manufacturing facility in Blacksburg, SC. The $1.2B investment targets 6,400 tpa of NdFeB magnets and 5,000 tpa of strip-cast metal, with commissioning in 2028. This follows the completed Serra Verde acquisition and adds to the Stillwater, OK magnet operation, bringing total planned domestic magnet capacity to 10,000 tpa. The project strengthens the company's vertically integrated rare earth supply chain and aligns with U.S. government efforts to reduce reliance on China. Construction partners include Clark/Frampton JV and Trammell Crow. Watch for financing updates given the $1.25B shelf filed Sept 4.
At the time of this announcement, USAR was trading at $17.25 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $6.5B. The 52-week trading range was $11.45 to $43.98. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.