CHIPS incentives — USA Rare Earth (up to $277 million)
Up to $277 million in federal incentives to USA Rare Earth under the CHIPS and Science Act. The Department of Commerce's CHIPS Program Office announced a non-binding letter of intent on January 26, 2026 and finalized a definitive agreement (final award) on June 3, 2026. The funding supports USA Rare Earth's mine-to-magnet strategy: expansion of the Stillwater, Oklahoma plant to 10,000 TPA of NdFeB magnets with 10,000 TPA of on-site metallization and strip-casting, and a mining and processing facility at Round Top Mountain in Sierra Blanca, Texas. A companion loan agreement for up to $1.3 billion in the same definitive agreement is recorded separately as usare-chips-loan-2026.
Financial state: Definitive agreement
Program: CHIPS Program Office · U.S. Department of Commerce
Terms
| Amount | $277M (up to, as announced) |
|---|
Immutable financial events
- Jan 26, 2026 · Announced
- Jun 3, 2026 · Definitive agreement
Sources
- National Institute of Standards and Technology · published Jan 26, 2026 · retrieved Aug 11, 2026 · archive
- National Institute of Standards and Technology · published Jun 3, 2026 · retrieved Aug 11, 2026 · archive