USA Rare Earth Announces Letter of Intent with the U.S. Government for Access to $1.6 Billion in Funding to Accelerate the Domestic Heavy Rare Earth Value Chain. Concurrently, USA Rare Earth Raises $1.5 Billion in Private Sector Investment.

USA Rare Earth has announced a non-binding Letter of Intent with the U.S. Department of Commerce for $1.6 billion in funding, which includes $277 million in federal funding and a $1.3 billion senior secured loan. This funding aims to accelerate the domestic heavy rare earth value chain, enhancing U.S. national security and competitiveness. Concurrently, USA Rare Earth raised $1.5 billion in private sector investment. The collaboration will support the production of critical minerals and rare earth elements essential for various industries, including semiconductors and defense.