Magnet recipe development and customer qualification work set to begin in support of full magnet production in 2026
“We’re Open for Business,” says CEO Joshua Ballard
STILLWATER, Okla., March 31, 2025 (GLOBE NEWSWIRE) — USA Rare Earth, Inc. (Nasdaq: USAR) (USAR or the Company), today announced it has commissioned its advanced Innovations Lab at its manufacturing facility in Stillwater, Oklahoma, and will begin prototyping permanent neo magnets for customers in the second quarter. The lab is designed to replicate the complete magnet production process, enabling rapid prototyping, customized magnet recipe development, and innovative processing techniques including grain boundary diffusion.
This state-of-the-art facility marks a significant milestone in establishing one of the largest rare earth, sintered neo magnet manufacturing facilities in the United States. The lab will accelerate the Company’s customer qualification process and play a critical role in USAR’s research and development efforts, supporting customers, proprietary intellectual property advancements, quality control, and production optimization ahead of the commissioning of the plant’s first production line in early 2026.
“Our magnet facility sits at the center of the Trump Administration’s recent critical mineral executive order, providing a unique domestic source of critical neo magnets that are the linchpin of our commercial and defense technologies today, from right here in the heart of America,” said Joshua Ballard, CEO.
Mr. Ballard continued, “We will serve a diverse range of industries and customers, while prioritizing innovation, flexibility, and customer collaboration. We’re open for business.”
The lab is staffed by a team of experts with deep experience in metal and magnet technology, manufacturing, and sales. USAR will offer flexible finishing capabilities for a wide-range of magnet compositions, sizes, and shapes. As USAR secures offtake agreements, future production lines could be customized to meet the specific needs of key customers. The Company remains committed to strengthening the domestic rare earth supply chain and driving innovation in magnet manufacturing.
For more information, please visit USARE.com and connect with us on LinkedIn and X.
About USA Rare Earth
USA Rare Earth, Inc. is building a vertically integrated, domestic rare earth magnet production supply chain. USAR is currently constructing a 310k square foot rare earth sintered neo magnet manufacturing facility in Stillwater, Oklahoma. USAR also controls mining rights to the Round Top Mountain rare earth and critical minerals deposit in West Texas, which holds significant deposits of heavy rare earths, such as dysprosium and terbium, as well as gallium, beryllium, lithium and other critical tech minerals. USAR’s permanent neo magnets and rare earth minerals are required for a wide variety of products used in the defense, automotive, aviation, industrial, medical, and consumer electronics industries.
For more information about USA Rare Earth, visit USARE.com
Forward-Looking Statements
Certain statements made in this press release are “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by the use of words such as “estimate,” “projects,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “should,” “future,” “propose,” “potential,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements.
These forward-looking statements include, but are not limited to, statements regarding the financial position, business strategy and the plans and objectives of management for future operations. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of USA Rare Earth’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of the parties, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this presentation, except as required by law.
Investor Relations Contact:
Lionel McBee
VP, Investor Relations
[email protected]
Media Relations Contact:
Gateway Group
Zach Kadletz
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7c0a1019-305e-454d-8c78-49281df6e07e