Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
US Supports Rare Earth Mining; US Govt Reported to Acquire 10% Stake in USA Rare Earth
Recommend 0 Positive 1 Negative 0 |
||||
|
||||
|
The administration of US President Donald Trump will acquire a 10% stake in USA Rare Earth (USAR.US) as part of a US$1.6 billion debt and equity investment plan aimed at assisting the company in developing domestic mines and magnet production facilities, Reuters quoted sources as saying. The US government will obtain 16.1 million shares and warrants for an additional 17.6 million shares of the company, both priced at US$17.17 per share. The company will hold an investor conference call later today (26th) in the morning local time to announce this transaction and another US$1 billion private investment, the sources added. The company is currently collaborating with Texas Mineral Resources (TMRC.US) to develop a Texas mine, which is expected to commence production in 2028. Its magnet manufacturing plant in Oklahoma is anticipated to launch later this year. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
