USA Rare Earth Makes $73 Million Bid For Texas Mineral To Develop Round Top Rare Earth Project
Synopsis
The company announced it will acquire Texas Mineral Resources Corp. in an all-stock deal valued at around $73 million.
USA Rare Earth (USAR) announced on Thursday that it is set to acquire Texas Mineral Resources Corp. in an all-stock deal valued at around $73 million, in a bid to boost the country’s critical mineral supply chain.
Under the deal, USA Rare Earth will issue about 3.82 million shares to acquire all outstanding shares of Texas Mineral Resources. The transaction will give USA Rare Earth full ownership and control of the Round Top Project in Texas, where commercial production is expected to begin in 2028.
The transaction is expected to close no later than the third-quarter of fiscal 2026, the company said.
USAR shares gained around 0.7% in pre-market trading.
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