USA Rare Earth LLC, a mining company focused on resources essential to technology but dominated by China, is considering a stock-market listing this year targeting a valuation of over $1 billion, according to people familiar with the matter.
The company plans to mine several rare earths in Texas and use them to produce the strong magnets used in electric motors, missiles and wind turbines. The company also intends to mine lithium, which is used in batteries for electric cars and cell phones.reduce their dependence on Chinese supplies of rare earths
and its facilities to turn them into something useful, with a host of companies vying for investor and government dollars. Pini Althaus, chief executive of USA Rare Earth, said the miner is looking at a range of financing options, including an Initial Public Offering and a transaction with a blank-check company. So-called SPACs, or special purpose acquisition companies, haveUSA Rare Earth has hired Goldman Sachs and Bank of Montreal to explore a listing in New York, the people familiar with the matter said.
5 million dollars and I will tell you where a billion dollars of rare earths are stashed away on dnr land. I can even tell you how to hold the lease until it becomes economical to extract when the Chinese decide to squeeze the market. Once in a life time opportunity.
I know a huge source of rare earths here in America no one but a single billionaire has been eyeing. For every 1m you send to my pay pal I will give you one coordinate.
We as a citizen of Myanmar not agree with the current move and would like to request the world leaders. UN and the world medias help our country- our leaders- our people - from this bitter acts. We want democracy and want our country to develop as our neighbouring countries.
The article mentions that the USA used to mine much more of its own rare earth. It doesn’t say why we don’t now. A few sentences about that would make this article more complete.
Does the Biden administration still seek to reduce the dependence on Chinese rare earths?