USA Rare Earth Inc. signed a non-binding agreement with the Commerce Department to receive $1.6 billion in funding to accelerate US production of key rare-earth elements.

USA Rare Earth entered into a letter of intent to receive $1.6 billion in funding from the Department of Commerce to improve its domestic supply chain.

The Trump administration took an equity stake in a critical minerals company, marking yet another government deal in the sector aimed at reducing the United States’s reliance on China. The deal is part of the Trump administration’s approach to secure a domestic supply of critical minerals,

The Trump administration is planning to invest $1.6 billion into USA Rare Earth, the Financial Times reported, citing unidentified people familiar with the matter.

The Trump administration plans to provide USA Rare Earth with $1.6 billion in mostly loan financing to extract and process the materials and manufacture rare earth magnets. The non-binding agreement unveiled Monday also includes a roughly 10% equity stake,

USA Rare Earth shares rallied on Monday after the critical minerals startup announced that the Department of Commerce will take an equity stake. Commerce has issued a letter of intent that would provide USA Rare Earth with a $1.

The Trump administration is poised to inject $1.6B into USA Rare Earth (USAR) in exchange for a 10% stake in the company, the U.S. government's biggest investment in the rare earths sector so far, the Financial Times reported Saturday.

The Trump administration is set to take a 10% equity stake in USA Rare Earth as part of a $1.6 billion debt-and-equity investment package designed to strengthen domestic production of rare earth minerals,