Governor Abbott Announces Texas Semiconductor Innovation Fund Grant To USA Rare Earth

~ In a move to boost the production of rare earth minerals in Texas, Governor Greg Abbott has announced that USA Rare Earth, Inc. (USARE) will receive a grant of $14,177,600 from the Texas Semiconductor Innovation Fund (TSIF). This grant will be used to accelerate the production of rare earth minerals at USARE's Round Top Mountain project in Hudspeth County.

The facility is expected to create 260 jobs and bring in over $1.4 billion in capital investment. Governor Abbott expressed his confidence in the project, stating that "Texas is where hard work and innovation will secure America's mineral independence." He also highlighted the importance of reducing reliance on foreign supply chains for critical minerals that power economic and national security.

USARE plans to develop its Round Top Mountain deposit as a domestic source of heavy rare earth elements (HREEs) and select technology metals. These elements are crucial for high-performance permanent magnets used in semiconductor manufacturing, electric vehicles, physical AI and robotics, as well as advanced defense systems. The Round Top site is estimated to contain one billion tons of material and 15 out of 17 rare earth elements.

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CEO Barbara Humpton expressed gratitude towards Governor Abbott and the state of Texas for their investment in America's critical minerals future. She stated that this award from the Texas Semiconductor Innovation Fund further solidifies their belief that "Texas is where America's rare earth independence begins." With their Round Top deposit and support from state leaders, USARE aims to build a fully integrated value chain from American soil, creating jobs and ensuring that the United States does not have to rely on adversarial nations for these vital materials.

Senator César J. Blanco also praised this investment in Hudspeth County, stating that it is a major step towards strengthening American energy independence, expanding advanced manufacturing, and supporting national security. He emphasized the importance of reducing reliance on foreign sources by strengthening the domestic critical minerals supply chain and positioning Texas as a leader in this rapidly growing industry.

Representative Eddie Morales echoed these sentiments, stating that as the demand for rare earth minerals increases, Texas is well-positioned to lead the nation in securing the supply chain and investing in national security. He also highlighted the economic growth and job opportunities that this project will bring to the region.

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This investment in USARE is a result of Governor Abbott's signing of the Texas CHIPS Act into law in 2023. This act established the Texas Semiconductor Innovation Fund (TSIF) and the Texas Semiconductor Innovation Consortium (TSIC) to continue Texas' leadership in semiconductor research, design, and manufacturing. These programs, administered by the Texas CHIPS Office, aim to leverage investments in the semiconductor industry, encourage companies to expand in the state, develop expertise and capacity at institutions of higher education, and maintain Texas' position as a leader in semiconductor manufacturing.

With this grant from TSIF, USARE is set to make significant strides towards achieving rare earth independence for America while creating jobs and boosting economic growth in Far West Texas. The state's investment in this project further solidifies its commitment to being at the forefront of advanced technologies for years to come.

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