USA Rare Earth’s President Barbara Humpton says her firm’s recent $2.8 billion acquisition of a mining operation in Brazil will eventually make the company and its magnet producing operation in Stillwater a leader in the rare earth industry worldwide and reduce dependency on China.
Interviewed Thursday on the Fox program, Mornings with Maria, she said the deal with the Serra Verde’s Pela Ema mine is a one-of-a-kind asset and the only producer outside Asia capable of
supplying all four magnetic rare earths at scale.
“And this is why USA Rare Earth is emerging as the leader, the global leader in the rare earth space, because we’re pulling together those links in the value chain, allowing each link to scale. Once we hit scale, we’ll be leading the pack.”
She said the company’s plant in Stillwater has started production of magnets which are used in high technology around the globe.
“The Stillwater Oklahoma plant is coming online. I’ve been in touch with the leadership team there. As you know, we finished commissioning in in quarter one on schedule. And I’m delighted with the way the demand is growing,” she told host Maria Bartiromo.
The Brazilian mining purchase will turn the company into a global leader.
“And we are the owners of less common metals, the only scaled producer of heavy rare earth metals, alloys and strip cast outside of China. And ultimately, then those go into magnets. It’s a value chain because in addition to the magnet supply chain, we’re serving many other aspects of the economy. We are up and running, and people frankly can’t believe how fast we’ve been moving.”
The purchase of the non-Asian supply chain will reduce reliance on China.
“So whether you’re in defense, whether you’re in health care, whether you’re in energy production, having a supply of magnets and the key metals, perhaps even the oxides that you need in case of disruption, we’re moving as quickly as we can to ensure we can produce those, all of those materials.”
Rare-earth elements (REEs) are a set of 17 chemically similar, soft, silvery-white heavy metals crucial for high-tech devices. They are also considered to be indispensable for permanent magnets, electric vehicles, wind turbines, defense systems and electronics.
China controls up to 99 percent of the total global supply of many of those elements. Humpton cited the production of an element called yttrium.
“Semiconductors, aerospace and defense rely on yttrium for all kinds of high performance missions. China provides that today. Now, USA Rare Earth, our own deposits, will produce yttrium and will have a supply outside of China. We have the ability to process it. And by the way, less common metals has just demonstrated the ability to make yttrium metal. All of these, all of these strangleholds are ripe to be broken. There’s a real key here with the use of technology to unlock our progress,” she explained in the interview.
The company recently announced its first commercial pour of 2N-2N5 yttrium metal through its wholly-owned subsidiary, Less Common Metals Ltd. at its facility in Cheshire United Kingman. It makes the company among a limited number of producers of commercial-grade yttrium metal operating outside of China.
The rare mineral is a key material in thermal barrier coatings used on turbine blades and other high-temperature aerospace components where it enhances oxidation resistance and improves adhesion. It also helps extend component life under intense thermal and mechanical stress. Yttrium is also used in electronics, energy systems, lasers, superconductors, and advanced ceramics, where its chemical stability and high-temperature performance are essential.
The company ended 2025 with $359.9 million in cash and cash equivalents and no significant debt. Its FY 2025 operating expenses were $59.7 million and its operating loss was $59.5 million with capital expenditures of $37.4 million.