USA Rare Earth to buy remaining Round Top stake for $73M

Cecilia Jamasmie | March 5, 2026 | 4:06 am Critical Minerals Markets USA Rare Earth

Round Top rare earths deposit in Texas. (Image courtesy of Texas Mineral Resources.)

USA Rare Earth (Nasdaq: USAR) will acquire the remaining minority interest in the Round Top rare earth deposit in Texas in a $73 million all-stock deal, securing full control of a key US source of critical minerals.

The Oklahoma-based company is purchasing all outstanding shares of Texas Mineral Resources (OTCMKTS: TMRC) for about 3.8 million shares of USA Rare Earth common stock.

Shares of USA Rare Earth rose about 1% in pre-market trading following the announcement.

The deal will make USA Rare Earth the sole operator of the Round Top project, which the company says is the largest known US source of heavy rare earth elements, gallium and beryllium.

“This acquisition secures a vital pillar in our strategy to build the world’s leading globally integrated, non-China critical mineral technology platform,” USA Rare Earth CEO Barbara Humpton said.

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USA Rare Earth has accelerated its development timeline for the Texas project as demand for domestic critical minerals grows. Last year, the company said it expected commercial production to begin in late 2028, two years earlier than its previous target, citing faster progress at its processing facilities and rising US demand.

In January, the US Commerce Department agreed to support a $1.6 billion debt-and-equity financing package in exchange for a 10% stake in the company. The funding is intended to help build the Texas mine and a magnet manufacturing facility aimed at supplying the defence and high-tech sectors.

Mine-to-magnet

The push aligns with broader US policy efforts to expand domestic critical mineral production and reduce reliance on China, which dominates the global supply chain. President Donald Trump invoked emergency powers last year to accelerate development of US-based critical mineral resources.

USA Rare Earth describes itself as a mine-to-magnet solution designed to challenge China’s grip on the permanent magnet supply chain. Under its Accelerated Mining Plan, the company expects to extract nearly 40,000 tonnes per day of rare earth and critical mineral feedstock by 2030.

The boards of both companies have approved the transaction, which is expected to close in the third quarter.