USA Rare Earth Is Breaking Ground on Its $1.2 Billion South Carolina Facility. Is It Time to Buy the Critical Minerals Stock?
The move comes as USA Rare Earth aims to be a key domestic supplier of critical minerals and permanent magnets.
Overview
China's grip on the rare-earth market has exposed a critical weakness in Western supply chains, and USA Rare Earth (NASDAQ: USAR) aims to turn that vulnerability into an opportunity.
The company is building a fully integrated "mine-to-magnet" business for rare-earth elements and permanent magnets outside China. By connecting mining, processing, alloy production, and magnet manufacturing, USA Rare Earth could become a key supplier of these materials crucial to defense and other technologies.
Details
On Sept. 9, USA Rare Earth announced it was breaking ground on its $1.2 billion South Carolina facility, which will help it reach its long-term goal of producing 10,000 metric tons of magnets and 10,000 metric tons of strip-cast metal. With the new facility under construction, is it time to buy the rare-earth stock?
Source
Originally published at www.fool.com.