USA Rare Earth Eyes $3 Billion-Plus Funding to Accelerate Plans

USA Rare Earth Inc. has more than $3 billion in potential funding for its plans to build a domestic rare-earth and critical mineral supply chain, according to Chief Executive Officer Barbara Humpton.

The prospective funds include as much as $1.6 billion from the Department of Commerce and the rest from the private sector, Humpton said in an interview Tuesday with Bloomberg Television, Accelerated plans would see its Round Top deposit come on stream in 2028, she said.

“The defense sector knows that they need to chose different sources of supplies from China,” she said. “The conversations we are having ...