Keep pulling the thread on Barbara George.
USA Rare Earth has announced a transformative acquisition of Sara Verde Group.
Sara Verde Group owns and operates the only mine outside of Asia that produces all four magnetic rare earths.
A special purpose vehicle backed by the U.S. government and private investors has secured a 15-year, 100% offtake agreement for Sara Verde Group's magnetic rare earths.
In January, USA Rare Earth received a proposal for $1.6 billion in conditional funding from the U.S. Department of Commerce.
The United States and the European Union signed an agreement to coordinate on critical minerals, including policies on price floors and offtake agreements.
Barbara George asserts that China has historically manipulated global rare earth prices by flooding the market to drive non-Chinese competitors out of business.
The 15-year offtake agreement for Sara Verde Group's magnetic rare earths includes price floors.
China dominates the global mining, processing, and magnet production for rare earth elements.
In 1992, China's leadership declared a strategic policy equating its control of rare earths to the Middle East's control of oil.
USA Rare Earth has invested in Charister, a French company specializing in heavy rare earth processing.
Charister is expected to bring its rare earth processing operations online by the end of the current year.
USA Rare Earth submitted a proposal to the U.S. Department of Commerce CHIPS Program Office that includes plans for a processing facility at its Round Top site in Sierra Blanca, Texas.