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June 5, 2026
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4 minute read
USA Rare Earth makes strides in vertical integration strategy on many fronts, but headwinds strengthen at home and abroad
USA Rare Earth (USAR) on June 3 announced that it has executed definitive agreements with the US Department of Commerce to unlock nearly $1.6 billion in funding under the CHIPS Act, comprising $277 million in federal funding and up to $1.3 billion in senior secured loans tied to project milestones. Together with a previously announced $1.5 billion private capital raise and earlier financings, this brings the company’s available capital to roughly $3.5 billion.
The day before, USAR said it is investing $1.2 billion in a metallization and sintered magnet plant in Blacksburg, South Carolina, which will be its third US build alongside existing facilities in Stillwater, Oklahoma and Wheat Ridge, Colorado.
