What is the total amount of funding USA Rare Earth has secured under the CHIPS Act, and what will it be used for?

USA Rare Earth has finalized agreements with the U.S. Department of Commerce granting access to up to $1.6 billion in funding under the CHIPS Act. This funding will support the development of its Round Top project in Texas, as well as domestic rare earth processing, metal-making, and magnet manufacturing operations—including a planned $1.2 billion magnet manufacturing and rare earth metals facility in South Carolina.

How does this CHIPS Act funding fit into USA Rare Earth’s broader financing strategy and timeline for production?

The $1.6 billion CHIPS Act funding adds to a $1.5 billion private capital raise earlier in 2024, bringing total committed funding for the company’s expansion plans to approximately $3.5 billion. USA Rare Earth aims to achieve initial production at the Round Top project by 2028 and is working to build an integrated mine-to-magnet supply chain in the United States.

USA Rare Earth finalizes deals for up to $1.6 billion in funding under CHIPS Act

Jun 3, 2026

USA Rare Earth secured up to $1.6 billion in CHIPS Act funding to build a domestic rare earth supply chain. The investment supports the Round Top project in Texas, aiming for an integrated mine-to-magnet production capacity by 2028.

reuters

2026-06-03

USA Rare Earth finalizes deals for up to $1.6 billion in funding under CHIPS Act

2026-06-05

USA Rare Earth to Build $1.2B Metal and Magnet Manufacturing Facility in South Carolina

2026-07-09

Democrats Question Conflict of Interest in USA Rare Earth Federal Investment

2026-07-10

Democrats raise conflict concerns over federal investment in USA Rare Earth

2026-08-31

Brazil Rare-Earth Mine Shows Hurdles of Breaking Free From China

USA Rare Earth finalizes deals for up to $1.6 billion in funding under CHIPS Act

FAQ