USA Rare Earth Expands Rare Earth Mineral Production Capabilities

Company acquires Texas Mineral Resources Corp. and Less Common Metals Ltd. to bolster domestic rare earth supply chain.

Mar. 11, 2026 at 7:20pm

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USA Rare Earth, Inc., a rare earth mining and processing company based in Stillwater, Oklahoma, has made two major acquisitions to expand its rare earth mineral production capabilities. The company has acquired Texas Mineral Resources Corp. for $73 million and Less Common Metals Ltd. to strengthen its rare earth magnet manufacturing operations.

Why it matters

Rare earth minerals are critical components for a wide range of high-tech products, including semiconductors, defense systems, electric vehicles, and renewable energy technologies. USA Rare Earth's investments aim to secure domestic supply of these essential materials and reduce reliance on foreign sources, particularly China which currently dominates global rare earth production.

The details

As part of the Texas Mineral Resources Corp. acquisition, USA Rare Earth will become the sole operator of the Round Top rare earth project in southwest Texas. The company plans to rapidly develop the project and extract up to 40,000 metric tons per day of rare earth and critical mineral feedstock by 2030. The acquisition of Less Common Metals Ltd. will also bolster USA Rare Earth's rare earth magnet manufacturing capabilities at its facility in Stillwater, Oklahoma.

  • In October 2025, USA Rare Earth announced the acquisition of Less Common Metals Ltd.
  • In March 2026, USA Rare Earth completed the $73 million acquisition of Texas Mineral Resources Corp.

The players

USA Rare Earth, Inc.

A rare earth mining and processing company based in Stillwater, Oklahoma that is expanding its domestic rare earth supply chain through strategic acquisitions.

Texas Mineral Resources Corp.

A mining company that owns the Round Top rare earth project in southwest Texas, which USA Rare Earth has now acquired.

Less Common Metals Ltd.

A rare earth magnet manufacturing company that USA Rare Earth has acquired to bolster its domestic rare earth magnet production capabilities.

Barbara Humpton

CEO of USA Rare Earth, Inc. who has overseen the company's recent acquisitions and expansion plans.

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What they’re saying

“What we'll be doing this year is rapidly moving through the steps that are typically done over a multi-year period in order to prove out the feasibility of the whole deposit and establish the infrastructure needed.”

— Barbara Humpton, CEO, USA Rare Earth, Inc.

“What this provides us is one of the most productive sources of heavies available anywhere. And this is how USA Rare Earth is building the leading rare earth mine-to-magnet value chain.”

— Barbara Humpton, CEO, USA Rare Earth, Inc.

What’s next

USA Rare Earth plans to rapidly develop the Round Top rare earth project in Texas and commission its first rare earth magnet production line at its facility in Stillwater, Oklahoma by the end of 2026.

The takeaway

USA Rare Earth's strategic acquisitions and investments aim to establish a robust domestic supply chain for rare earth minerals and magnets, reducing U.S. reliance on foreign sources and bolstering critical industries such as defense, technology, and renewable energy.