USA Rare Earth secures up to $19.3M
2026-05-22 15:58:04 [Print]
USA Rare Earth has been selected by the U.S. Department of Energy (DOE) to receive up to $19.3 million in federal funding to advance a pilot-scale rare earth separations project designed to bolster domestic critical mineral supply chains.
The total project cost is estimated at roughly $50.5 million, with $31.2 million coming from non-DOE sources. The final scope, budget and timeline are still under discussion with the department.
Last month, USA Rare Earth unveiled a $2.8 billion deal to acquire Brazil's Serra Verde, which owns the Pela Ema rare earth mine in Goiás state. The agreement featured a 15-year U.S. offtake contract covering neodymium, praseodymium, dysprosium and terbium--metals critical to high-performance magnets.
Brazil's antitrust regulator has opened an inquiry into the proposed takeover, which would hand USA Rare Earth control of the country's only producing rare earth mine. The mine began commercial output two years ago and is among the few outside China with large-scale heavy rare earth production capability. Serra Verde has indicated that the operation could represent half of non-Chinese heavy rare earth supply by next year.
The total project cost is estimated at roughly $50.5 million, with $31.2 million coming from non-DOE sources. The final scope, budget and timeline are still under discussion with the department.
Last month, USA Rare Earth unveiled a $2.8 billion deal to acquire Brazil's Serra Verde, which owns the Pela Ema rare earth mine in Goiás state. The agreement featured a 15-year U.S. offtake contract covering neodymium, praseodymium, dysprosium and terbium--metals critical to high-performance magnets.
Brazil's antitrust regulator has opened an inquiry into the proposed takeover, which would hand USA Rare Earth control of the country's only producing rare earth mine. The mine began commercial output two years ago and is among the few outside China with large-scale heavy rare earth production capability. Serra Verde has indicated that the operation could represent half of non-Chinese heavy rare earth supply by next year.
