Rare earth stocks gained on Wednesday. American Resources up 11%; USA Rare Earth up another 8% after a 8.5% rally in prior trading session; UAMY, The Metals up over 7%; Critical Metals, Ramaco Resources up around 5%.
USA Rare Earth will build a facility in Lacq, France, capable of producing 3,750 metric tons per year of rare earth metals and alloys.
The facility, which will be developed through the company's European subsidiary, Less Common Metals Europe, will be co-located with Carester SAS's 1,600-metric-ton-per-year Caremag rare earth oxide processing facility, which is scheduled for commissioning in late 2026.
Together, the sites are expected to establish an integrated supply chain for rare earth processing, metal and alloy production in Europe, USA Rare Earth said Tuesday.
The French government has approved direct tax credits for the project under its C3IV program, covering up to 45% of eligible equipment costs and up to 130 million euros ($151.4 million) for real estate, and is also considering support for hiring and training programs.
USA Rare Earth said the project will strengthen its integrated rare earth value chain and support the development of a secure transatlantic supply chain.