LONDON, April 10 (Reuters): USA Rare Earth is considering building a magnet plant in France, its CEO said on Thursday, after agreeing to pay 40 million euros ($47 million) for a stake in French rare earth processing firm Carester.
The United States and Europe are rushing to establish domestic supplies of rare earths, which are vital for the green energy transition, electronics and the defence sector, and cut their dependence on top producer China.
As part of its drive to establish an integrated rare earths operation comprising mining, processing and magnet making, USA Rare Earth will buy a 12.5 per cent stake in Carester, which is building a processing plant in southern France, the company said.
InfraVia, a critical minerals fund seeded by the French state, will also buy a 12.5 per cent stake in privately held Carester, USA Rare Earth added.
"They (the French government) are interested in... supporting a potential USA Rare Earth magnet-making facility in the south of France," CEO Barbara Humpton told an investor call.
USA Rare Earth considers building French magnet plant
FE Team | Published: April 10, 2026 22:40:51
USA Rare Earth considers building French magnet plant
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