USA Rare Earth to Acquire Texas Mineral Resources in $73 Million All-Stock Deal
USA Rare Earth (NASDAQ: USAR) has finalized a definitive agreement to acquire all outstanding shares of Texas Mineral Resources (OTCQB: TMRC) in an all-stock transaction valued at approximately $73 million. This acquisition positions USA Rare Earth as the sole operator and financial beneficiary of the Round Top Project, which it is touting as “North America’s richest known heavy rare earth deposit.”
The transaction allows USA Rare Earth to fully integrate Texas Minerals’ 18.6% ownership stake in the Round Top Project, significantly advancing its Accelerated Mining Plan. The aim is to target commercial production by 2028, with a goal of reaching 40,000 metric tonnes of feedstock per day by 2030.
Barbara Humpton, CEO of USA Rare Earth, emphasized that this acquisition is a strategic move toward establishing a “globally integrated, non-China critical mineral technology platform.” This initiative reflects a broader commitment to enhancing domestic production capabilities in a field of pivotal importance to both industry and national security.
Anthony Marchese, Chairman of Texas Minerals, acknowledged the long-recognized strategic significance of the Round Top Project. “We believe this transaction paves the way for successful commercial advancement while delivering considerable value to TMRC shareholders, avoiding severe dilution that can arise from extensive cash calls,” he stated. Marchese further highlighted that TMRC shareholders will benefit from USAR’s diversified operations encompassing a comprehensive mine-to-magnet strategy, rather than being limited to a single project focus.
Officials in Texas have underscored the project’s importance for national security and the resilience of the domestic supply chain, as well as its potential to generate funding for state education through royalties associated with leases from the Texas General Land Office.
The boards of both companies have ratified the agreement, which is pending approval from Texas Mineral Resources’ shareholders. The deal is projected to close in the third quarter of 2026.
USA Rare Earth is actively developing a fully integrated rare earth and permanent magnet supply chain spanning the United States, the United Kingdom, and Europe.
For further inquiries, contact Amy Rotman at Mining.com.au.
[Image source: USA Rare Earth]
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