USA Rare Earth to acquire Texas Minerals, consolidating Round Top control
Critical minerals company USA Rare Earth on Thursday announced the acquisition of Texas Mineral Resources in an all-share transaction valued at about $73-million, securing full operational and economic control of the Round Top heavy rare earths project in Texas.
Under the definitive agreement, USA Rare Earth will acquire all outstanding shares of Texas Mineral Resources for 3 823 328 shares of USA Rare Earth common stock.
The transaction consolidates the remaining 18.6% minority interest in the Round Top Mountain project, establishing USA Rare Earth as the sole operator and 100% economic beneficiary of what the company describes as North America’s richest known deposit of heavy rare earths and critical minerals.
The deal is expected to streamline governance and align capital planning as the company advances development under its Accelerated Mining Plan, which targets commercial production in 2028.
By 2030, USA Rare Earth expects the project to produce about 40 000 t/d of rare earths and critical minerals feedstock.
CEO Barbara Humpton said the acquisition strengthened the company’s strategy to build an integrated non-China rare earths supply chain.
“This acquisition secures a vital pillar in our strategy to build the world’s leading globally integrated, non-China critical mineral technology platform,” she said.
Round Top, located on Texas state land and operated under a long-term lease with the Texas General Land Office, forms a key part of USA Rare Earth’s “mine-to-magnet” supply chain strategy, which includes rare earths processing, metal making and magnet manufacturing.
The transaction, which has been approved by the boards of both companies, is expected to close by the third quarter of 2026, subject to shareholder approval and customary conditions.
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