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The Trump administration is set to take a 10% equity stake in USA Rare Earth as part of a $1.6 billion debt-and-equity investment package designed to strengthen domestic production of rare earth minerals, according to sources cited by Reuters. The deal, combined with an additional $1 billion in private funding, underscores Washington’s growing focus on securing critical mineral supply chains vital to national security, advanced manufacturing, and emerging technologies.
The investment will be officially unveiled on Monday, with Oklahoma-based USA Rare Earth hosting a morning conference call for investors to outline the transaction details. While the White House has not yet commented publicly, the move reflects a broader strategy by the administration to reduce U.S. dependence on China, which currently dominates global rare earth processing. These 17 minerals are essential for manufacturing electronics, electric vehicles, renewable energy systems, and military equipment.
As part of the agreement, the U.S. government will receive 16.1 million shares in USA Rare Earth, along with warrants for an additional 17.6 million shares. Both the shares and warrants are priced at $17.17 per share, close to where the company’s stock traded earlier this month. The Financial Times was the first to report the investment.
USA Rare Earth is developing a rare earth mine in Sierra Blanca, Texas, in partnership with Texas Mineral Resources, with operations expected to begin by 2028. The company is also preparing to launch a magnet manufacturing facility in Stillwater, Oklahoma, later this year, a key step toward establishing a full domestic supply chain.
This deal follows similar government-backed investments in companies such as MP Materials, Lithium Americas, and Trilogy Metals. A senior Trump administration official recently described these efforts as part of a series of “historic deals” aimed at expanding U.S. production of lithium, rare earths, and other critical minerals used in defense, artificial intelligence, and high-tech industries. USA Rare Earth has also engaged Cantor Fitzgerald to support its fundraising efforts, further signaling momentum in the U.S. critical minerals sector.
