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USA Rare Earth Announces Carester Investment and Strategic Partnership in France

USARUSARW
  • USA Rare Earth and InfraVia have signed a term sheet to acquire approximately 12.5% equity stakes each in Carester SAS.
  • InfraVia is investing through its Critical Metals Fund, which is seeded by the French State alongside private institutional capital.
  • The partnership grants USA Rare Earth and LCM Europe rights to purchase oxide output from Carester's Caremag facility and access to separation engineering capabilities.
  • Carester will secure long-term access to heavy rare earth feedstock from USA Rare Earth's Round Top deposit in Texas, expected to begin commercial operation in late 2028.
  • Carester is constructing the Caremag magnet recycling and heavy rare earth separation facility in Lacq, France, with commissioning scheduled for late 2026.
  • The transaction supports a broader initiative to build an integrated rare earth industrial platform in Lacq that combines USA Rare Earth, LCM Europe, and Carester technologies.
  • USA Rare Earth is developing a 3,750 metric tons per annum metal and alloy production facility at the same Lacq location.
  • The French government has previously announced up to €130 million in direct credits under the C3IV program for the LCM Europe metallization project.
  • Bpifrance Assurance Export is considering a state guarantee covering 50% of commercial debt financing for the project's capital expenditures.
  • USA Rare Earth will host a conference call on April 9, 2026, at 8:30 AM ET to discuss the strategic investment.
  • Moelis & Company LLC serves as the financial advisor, while Latham & Watkins LLP acts as the legal advisor for USA Rare Earth.