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USA Rare Earth, Inc. (USAR) is advancing its Stillwater magnet manufacturing facility in Oklahoma towards commercial production of Neodymium Iron Boron (NdFeB) magnets, crucial for various industries. The facility aims to be one of the first large-scale magnet plants in the U.S. and is expected to enhance the domestic rare earth supply chain.
As of November 2025, USAR has raised over $400 million through PIPE financing and warrant exercises to prepare for commissioning early in 2026. The facility will expand its NdFeB magnet production capacity to approximately 1,200 metric tons, with hiring and training of engineers underway. Additionally, USAR acquired Less Common Metals to secure essential metal and alloy feedstock.
In comparison, major peer NioCorp Developments Ltd. (NB) has initiated a second drilling phase at its Elk Creek Project in Nebraska, while Trilogy Metals Inc. (TMQ) is progressing in the Ambler mining district through a joint venture with South32 Limited, marking ongoing developments in the rare earth sector.
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