USA Rare Earth Inc. (USAR.US) is planning to acquire the remaining minority stake in a Texas rare earth deposit through an all-stock transaction valued at approximately $73 million. According to sources familiar with the matter, the company will acquire all outstanding shares of Texas Mineral Resources Corp. in exchange for about 3.8 million shares of USA Rare Earth common stock. This acquisition will grant USA Rare Earth complete operational control of the Round Top project, recognized as the most abundant heavy rare earth deposit known in North America. Securing full ownership of the project is considered crucial for the company to meet its accelerated timeline to develop Round Top into a commercial-scale mine. USA Rare Earth positions itself as a "mine-to-magnet" solutions provider. Permanent magnets are essential components in fighter jets, wind turbines, electric vehicles, and a range of other critical products. In January, the company signed a non-binding $1.6 billion agreement with the U.S. Department of Commerce to help fund the project's development, while also planning to double the capacity of its magnet manufacturing facility in Oklahoma. Beyond government support—which includes proposed federal incentives of $277 million and a $1.3 billion senior secured loan—USA Rare Earth has also announced $1.5 billion in private sector investment to support spending on mining, processing, metal production, and magnet manufacturing. During an investor call in January, Chief Financial Officer Rob Steele projected that the company's operating loss for 2025 would range between $56 million and $62 million.