GlobeNewswire·Nov 9, 2026, 4:47 PM ET

USA Rare Earth Announces Start of Commercial-Scale Shipments and Sale of Heavy Rare Earth MREC from Serra Verde to US SIIE, LLC

USA Rare Earth (USAR) commenced commercial-scale shipments of mixed rare earth carbonate (MREC) in October with first sales occurring in November following the successful completion of Stage 1 of its optimization & expansion program.
Production is ramping toward an initial run rate of approximately 4,000 tpa TREO targeted for Q2 2027.
Shipments are governed by a 15-year, 100% take-or-pay offtake agreement with US SIIE LLC, a U.S. Government-funded special purpose vehicle, based on non-China reference prices.
The agreement includes guaranteed price floors for key rare earths used in NdFeB magnets: $110/kg for Nd & Pr, $575/kg for Dy, & $2,050/kg for Tb, plus 70% of non-China market price excess over floors.
USAR is positioned as the only scaled producer outside Asia of scarce heavy rare earths & all four key elements required for NdFeB magnets.
Delivered product meets customer quality acceptance specifications, validating Serra Verde's optimization program & demonstrating active production.
Stage 2 of the optimization & expansion program is underway with commissioning planned for Q3 2027 to increase run rates to ~6,400 tpa TREO by year-end 2027.
Recent non-China prices for dysprosium oxide are 14-16x higher than China prices, while terbium oxide prices are 6-9x higher than China prices.