USA Rare Earth outlines plans for 10,000-ton annual U.S. magnet capacity by 2029
USAR•USA Rare Earth targets annual U.S. magnet capacity of 10,000 tons by 2029, up from 600 tons currently. First magnet sales are expected by year-end 2026, and Commerce Department agreements provide up to $1.6 billion in milestone-based support, with no funds disbursed.
1. Capacity and production plans
USA Rare Earth targets annual U.S. magnet capacity of 10,000 tons in 2029, up from 600 tons currently. First magnet sales are expected by year-end 2026, with signed letters of intent and memoranda of understanding totaling approximately 2,500 tons.
2. Serra Verde and support
Serra Verde began Phase 1 production in September 2026 and is targeting an initial annual run rate of 4,000 tons. A 15-year take-or-pay agreement covers all Phase 1 production, with price floors for four key rare earths. Commerce Department agreements provide up to $1.6 billion in milestone-based support; no funds have been disbursed.
