Business
USA Rare Earth to Acquire Texas Mineral Resources Corporation
Transaction Establishes USAR as Exclusive Operator of the Round Top Heavy Rare Earth and Critical Minerals Project Round Top is North America’s Richest Known Deposit of Heavy Rare Earths and Critical Minerals STILLWATER, Okla., March 05, 2026 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (Nasdaq: USAR) (“USAR”) and Texas Mineral Resources Corp. (OTCQB: TMRC) (“TMRC”) today announced a definitive agreement for USAR to acquire all of the outstanding shares of TMRC for 3,823,328 shares of USAR common st
About this update from Heavy Rare Earths Limited
[{"type":"image","alt":"USA Rare Earth, Inc.","displaySize":"","headline":null,"caption":"USA Rare Earth, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":232,"height":45,"url":"https://media.zenfs.com/en/globenewswire.com/311fee48edb9f5bfa5fda5cc20e8f7db"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/GSnVnIS9bgUxHyanbsD2nA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTgxO2NmPXdlYnA-/https://media.zenfs.com/en/globenewswire.com/311fee48edb9f5bfa5fda5cc20e8f7db","width":232,"height":45}},"lazy":false},{"type":"text","content":"Transaction Establishes USAR as Exclusive Operator of the Round Top Heavy Rare Earth and Critical Minerals Project","length":114,"tagName":"p"},{"type":"text","content":"Round Top is North America’s Richest Known Deposit of Heavy Rare Earths and Critical Minerals","length":93,"tagName":"p"},{"type":"text","content":"STILLWATER, Okla., March 05, 2026 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (Nasdaq: USAR) (“USAR”) and Texas Mineral Resources Corp. (OTCQB: TMRC) (“TMRC”) today announced a definitive agreement for USAR to acquire all of the outstanding shares of TMRC for 3,823,328 shares of USAR common stock.","length":295,"tagName":"p"},{"type":"text","content":"The acquisition secures outstanding minority interests, establishing USAR as the sole operator and 100% economic beneficiary of the Round Top Project. This strategic transaction streamlines USAR’s operations as it builds a global champion in critical minerals and technology. USAR is developing the leading globally integrated mine to magnet platform, which is a U.S.-anchored, non-China value chain essential for the modern defense, robotics, energy, semiconductor and advanced manufacturing industries.","length":504,"tagName":"p"},{"type":"text","content":"The implied total deal value is approximately $73 million, based on the closing price of USAR’s common stock on March 4, 2026, and provides TMRC stockholders with the benefits of USAR’s enhanced capital markets presence, liquidity and balance sheet.","length":249,"tagName":"p"},{"type":"text","content":"Under its Accelerated Mining Plan (“AMP”), USAR is rapidly advancing the development of Round Top, with commercial production expected to begin in 2028. Acquiring TMRC’s 18.6% interest in the project – along with rights under existing long-term leases covering approximately 950 acres at Round Top and pros...