USA Rare Earth Prepares Stillwater Magnet Plant for 1,200-Ton Output and Vertical Integration
USA Rare Earth prepared its Stillwater facility in Oklahoma for commissioning in early 2026, installing equipment and training staff to produce up to 1,200 metric tons of NdFeB magnets. The company secured over $400 million in cash through PIPE financing and warrant exercises and acquired Less Common Metals to enable vertical integration.
1. Stillwater Facility Commissioning Plans
USA Rare Earth is finalizing installation and assembly of equipment at its Stillwater facility in Oklahoma, aiming to complete commissioning of Line 1a in early 2026. The site will be among the first large-scale NdFeB magnet plants in the U.S., targeting defense, aerospace, and automotive end markets.
2. Production Capacity Expansion
Following Line 1a commissioning, the company plans to complete Line 1b to raise total annual NdFeB magnet capacity to approximately 1,200 metric tons. This expansion aligns with projected demand in fast-growing sectors and supports efforts to secure long-term customer contracts.
3. Financing and Cash Position
USA Rare Earth boosted its balance sheet to over $400 million by November 2025 through PIPE financing and warrant exercises. These funds are allocated to plant enhancements, expanded magnet finishing capabilities, and workforce recruitment and training.
4. Vertical Integration via Acquisition
In November 2025, the company acquired Less Common Metals to gain access to critical alloys and metals for its Stillwater plant. This move strengthens supply-chain control, reduces external dependencies, and supports streamlined production workflows.