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

USAR USARW

USA Rare Earth commenced commercial-scale shipments of mixed rare earth carbonate (MREC) in October 2026 with first sales & payments occurring in November 2026.
The company successfully completed Stage 1 of its optimization program, ramping production toward an initial run rate of ~4,000 tpa TREO targeted for Q2 2027.
Shipments are executed under a 15-year, 100% take-or-pay offtake agreement with US SIIE, LLC, a special purpose vehicle funded by the U.S. Government.
Pricing is based on non-China reference prices with guaranteed floor prices: $110/kg for Nd & Pr, $575/kg for Dy, & $2,050/kg for Tb.
USA Rare Earth is positioned as the only scaled producer outside Asia of scarce heavy rare earths & all four key rare earth elements used in NdFeB magnets.
Product quality meets all acceptance specifications outlined in the Offtake Agreement, validating the effectiveness of the Serra Verde optimization program.
Completion of Stage 2 of the optimization 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.
The Offtake Agreement includes a mechanism where the company receives 70% of the non-China market price in excess of floor prices, less fixed separation costs.
Serra Verde's processing technology is exclusively home-grown in Brazil, with 70% of its skilled workforce sourced from the Minaçu community.

Company: USA Rare Earth, Inc.
Keywords: Nasdaq:USAR, USA Rare Earth, Inc.