The Round Top Mountain deposit is one of the most significant domestic sources of heavy rare earth elements (HREEs) and select technology metals in the United States. The site contains an estimated one billion tons of material and 15 of the 17 rare earth elements, anchoring the Company's strategy to deliver mine to magnet capability to U.S. and global customers in defense, aerospace, semiconductor, data center, physical AI, autonomous systems, mobility, healthcare, and industrial sectors.
"USA Rare Earth is grateful to Governor Abbott and the State of Texas for this investment in America's critical minerals future," said Barbara Humpton, Chief Executive Officer of USA Rare Earth. "This Texas Semiconductor Innovation Fund award reinforces what we have known from the start: Texas is where America's rare earth independence begins. With our Round Top deposit in Hudspeth County and the support of visionary state leaders, we are building a fully integrated value chain from American soil, creating Texas jobs, and ensuring that the United States and its allies and partners never again depend on adversarial nations for the materials that power our national defense, advanced manufacturing, and next-generation technology. From mine to magnet and beyond, USA Rare Earth is proud to call Texas home."
"Texas is where hard work and innovation have long secured America's economic independence," said Governor Greg Abbott. "This Texas-sized investment by USA Rare Earth in Hudspeth County will create good-paying jobs in West Texas and reduce reliance on foreign supply chains for critical rare earth minerals that power our economic and national security. Working together with innovative industry partners, we will accelerate Texas' leadership in semiconductor manufacturing and advanced technologies for decades to come."
The Texas Semiconductor Innovation Fund was established under the Texas CHIPS Act, signed into law by Governor Abbott in 2023, to advance the state's leadership in semiconductor research, design, and manufacturing. The TSIF is administered by the Texas CHIPS Office within the Texas Economic Development & Tourism Office in the Office of the Governor.
Round Top Mountain and the USA Rare Earth Integrated Value ChainThe Round Top Mountain project anchors USA Rare ...
