USA Rare Earth Takes 12.5% Carester Stake, Backing €130 Million French Rare Earth Plant
USA Rare Earth and InfraVia each will acquire 12.5% of Carester, securing heavy rare earth feedstock from Round Top, slated for commercial operation in late 2028. The partnership backs LCM Europe’s 3,750 mtpa plant in Lacq and unlocks €130 million in state credits plus 50% debt guarantees.
1. Investment Structure and Stakes
USA Rare Earth and InfraVia will each hold approximately 12.5% equity in Carester pending due diligence and final documentation, marking a strategic minority investment in a leading rare earth processor and separator.
2. Partnership Scope and Technology Access
Under the agreement, USA Rare Earth secures rights to purchase oxide output and gain access to separation and recycling technologies, while Carester obtains long-term heavy rare earth feedstock from the Round Top deposit, targeted to start commercial production in late 2028.
3. European Rare Earth Platform Development
The collaboration advances an integrated midstream and downstream rare earth ecosystem in Lacq, France, where LCM Europe will build a 3,750 mtpa metallization and alloy facility alongside Carester’s recycling and separation operations to support magnet manufacturing.
4. French Government Support
The project benefits from up to €130 million in direct state credits under the C3IV program and potential eligibility for a 50% state guarantee on commercial debt, reinforcing France’s strategic priority of industrial sovereignty in critical materials.