Episode Details

USA Rare Earths Q1 2026 earnings highlight strategic moves: acquiring Serra Verde mine in Brazil, investing in Carester, and fully owning Round Top project in Texas. This sets up a mine-to-magnet operation across three continents, securing key magnetic rare earths with government-backed price floors. The company secured a $1.6 billion letter of intent from the Department of Commerce and a $1.5 billion private investment, boosting cash to $1.75 billion. Serra Verde is the only scaled non-Asian producer of critical elements, speeding cash flow and bridging to U.S. projects. Defense contractors, aerospace giants, and auto makers are eager for non-China magnets and metals, pushing for safety stocks. Operations are ramping up, with Stillwaters Phase One A magnet plant live and LCM in the UK pouring commercial yttrium metal. Round Tops vat leaching started, with a feasibility study due early 2027. New executives and board members, including Sir Mick Davis, aim for positive cash flow and an Investor Day in Q3 2026.

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