Overview
- USA Rare Earth engaged Fluor and WSP as EPCM partners to advance the Definitive Feasibility Study for its Round Top project in Sierra Blanca, Texas.
- Pilot and engineering work includes solvent-extraction runs, at least 2,000 continuous hours at the Wheat Ridge demonstration plant through October 2026, and confirmatory and geotechnical drilling in the first half of 2026 alongside heap leach optimization.
- The company is targeting initial commercial production of heavy rare earth oxides by late 2028, while its Stillwater, Oklahoma magnet facility is slated for commercial-scale commissioning in the first quarter of this year.
- To bolster vertical integration, the company acquired Less Common Metals for $100 million in cash plus 6.74 million shares, securing metal-making capability and alloy feedstock for magnet production.
- Shares surged after the partnership news, including a 19.9% intraday jump Thursday and a 9.1% gain to a $24.77 close Friday, as analysts maintain Buy ratings with an average $18 target; the pre-revenue company reports over $400 million in cash and is expected to seek additional funding, with a Feb. 15 report forecast to show a $0.07 loss.