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USA Rare Earth Selects South Carolina Site for New Magnet, Metals Facility

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USA Rare Earth (USAR) has selected Cherokee County, South Carolina, as the site for a new magnet manufacturing and refined metals facility, the company said Tuesday.

The facility will produce sintered neodymium-iron-boron permanent magnets and refined rare earth metals, and once fully operational, it will target an annual production capacity of 6,400 metric tons of magnets and 5,000 metric tons of strip-cast metal, the company said.

Engineering work is underway, with site construction starting in the coming months and commissioning targeted for 2028, the company said.

Combined with expansions at its Stillwater, Oklahoma, facility, the company expects total domestic capacity to reach 10,000 metric tons per year for both product lines.

Shares of USA Rare Earth were up 3.8% in early Tuesday trading.

Price: $30.56, Change: $+1.13, Percent Change: +3.82%

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