First rare earth magnet facility mooted for USA
With Trade wars and Covid-19 politics driving change, USA Rare Earth is pushing forward with development of its Round Top heavy rare earth and critical minerals project in West Texas, USA. It is also investing in equipment to create a rare earth magnet production facility.
According to the company, Round Top Mountain hosts a range of critical rare earth elements including lithium, high-tech metals, uranium and beryllium – elements required by the USA for national defence and industry.
The Round Top Deposit geology hosts 15 of the 17 rare earth elements, and 13 of the 35 minerals deemed ‘critical’ by the US Department of the Interior. Currently, most of the market is controlled by China.