US to Inject $1.6 Billion into Rare Earths Miner for 10% Stake
The United States is planning to inject $1.6 billion into Oklahoma-based miner USA Rare Earth and will receive a 10% stake in the company, the Financial Times reported on Saturday, citing people familiar with the matter.The government investment and a separate $1 billion private financing deal are slated to be announced today, the report said.
The government would receive 16.1 million shares in the rare earths company, along with warrants for a further 17.6 million, both priced at $17.17, the report said.
Rare Earth Minerals are crucial for high-tech devices like smartphones, electric vehicles, and defense systems.
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