USA Rare Earth, Inc. (NASDAQ:USAR) is one of the best metal stocks to buy right now. On December 10, the company affirmed the acceleration of the commercialization timeline for its Round Top heavy rare-earth deposit in Texas. The company is now focused on commencing commercial production in late 2028, two years earlier than anticipated.
The acceleration comes as the company achieves promising results from solvent-extraction piloting, enabling it to operate its Hydromet demonstration facility in Colorado this year. The facility is to run five solvent extraction circuits continuously and generate operational data for commercial plant design.
The milestones underscore that the company is on track to begin extracting value from the Round Top deposit, one of the US’s known deposits of the heavy rare-earth elements gallium and beryllium.
“We’re challenging ourselves to innovate and pursue creative solutions that accelerate our timeline for securing, restoring, and growing the U.S. rare earth value chain,” said Barbara Hampton, Chief Executive Officer of USA Rare Earth. “Beginning commercial production at Round Top two years earlier than anticipated would be an exciting milestone made possible by the team’s technical capabilities, process knowledge, and ingenuity. As global demand for rare earth magnets continues to rise and geopolitical risks escalate, accelerating domestic production is essential for securing the long-term competitiveness of U.S. manufacturing.”
Analysts at Benchmark have already reiterated that the stock is a Buy with a $15 price target. The positive stance affirms the research firm’s confidence that the company is advancing a horizontally integrated concept” through its acquisition of LCM.
USA Rare Earth, Inc. (NASDAQ:USAR) builds a domestic U.S. supply chain for rare earth elements (REEs) and magnets, developing the Round Top mine in Texas for minerals like Dysprosium and Terbium, and constructing a magnet manufacturing plant in Oklahoma, aiming to reduce reliance on China for critical components used in defense, EVs, electronics, and green energy.
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Disclosure: None. This article is originally published at Insider Monkey.
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