USA Rare Earth Just Broke Ground on a $1.2 Billion Magnet Complex. Here's Why It Matters.

Last month, USA Rare Earth (NASDAQ: USAR) announced that it had started construction on its new rare-earth metal and manufacturing facility in Blacksburg, South Carolina. The $1.2 billion plant is expected to span roughly 800,000 square feet and represents a major step toward the company becoming a vertically integrated producer of rare-earth minerals and magnets. Thanks to the company's Texas mining location and acquisition of Brazil-based miner Serra Verde, USA Rare Earth's mineral extraction capabilities are rapidly expanding. With the ground now broken on the company's new refining facility, the company is taking big steps toward being a full-stack rare-earth minerals provider. Image source: Getty Images.

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