STILLWATER — Oklahoma’s USA Rare Earth, a mining and manufacturing company focused on developing a fully integrated, domestic, “mine-to-magnet” supply chain for rare earth elements, announced it is developing the Round Top Mountain heavy rare-earths and critical minerals project in West Texas, alongside a high-powered magnet manufacturing facility in Stillwater.
The company said its aim is to break dependence on foreign sources (specifically China) by mining heavy rare earths in Texas and producing permanent magnets for defense, electric vehicles and renewable energy. The company plans to be fully operational by 20272028.
The company said the Trump administration took an equity stake through the Commerce Department in January 2026 — the first such government investment in heavy rare earths.
The Round Top mining and processing project is targeted for opening by end of 2028 and is about two years ahead of prior projections. USA Rare Earth’s acquisition of U.K.-based Less Common Metals provides a processing and metal-making hub outside China.