USA Rare Earth, Inc. (NASDAQ: USAR) is an American mining and manufacturing company specializing in the extraction, processing, and production of rare-earth elements (REEs),[1] particularly heavy rare-earth elements (making up 70% of REE production), and permanent magnets. Headquartered in Stillwater, Oklahoma, USA Rare Earth is working on developing a domestic supply chain for REE magnets, used in industries such as defense, electric vehicles, renewable energy, consumer electronics, and advanced manufacturing.[2]
History
USA Rare Earth was founded in 2019 by Pini Althaus. The company initially focused on acquiring and developing domestic US resources to support a "mine-to-magnet" strategy, encompassing mining, separation, metal production, and magnet manufacturing.[3]
By early 2025, the company achieved its initial milestones, including the production of high-purity dysprosium oxide from Round Top ore and the opening of an Innovations Lab in Stillwater for prototype magnet development. In January 2025, USA Rare Earth produced its first batch of sintered neodymium-iron-boron (NdFeB) magnets at the lab, marking a step toward commercial-scale output.[4]