USA Rare Earth (NASDAQ:USAR) plans to invest more than approximately EUR175 million in France through 2030, expanding its metal, alloy and magnet-making operations in the country.
The planned investment builds on the company’s existing French initiatives, which include a Less Common Metals (LCM) rare earth metal and alloy production facility at Lacq and a strategic investment in Carester SAS alongside InfraVia Capital Partners
The investment would be made in conjunction with French government incentives, including the C3IV program, with potential additional support through debt guarantees and a possible direct equity investment into the company’s European subsidiary. The planned investment aligns with the company’s agreements with the US Department of Commerce and could create more than 300 jobs in the region. Speaking at the Choose France summit in Paris, CEO Barbara Humpton said the company is committed to building resilient, regional operations as it develops the mine-to-magnet value chain, calling France an attractive location for its industrial infrastructure, skilled workforce and policy support for critical minerals.
USA Rare Earth is building a fully integrated rare earth and permanent magnet value chain across the United States, the United Kingdom, France and Brazil. Shares of USAR were up over 8% on Monday morning