USA Rare Earth (USAR) and InfraVia said Thursday they plan to acquire a roughly 13% stake each in Carester.

The partnership provides the company and its Less Common Metals Europe unit the right to acquire certain Carester oxide output from its Caremag facility in Lacq, France, and access for USA Rare Earth to its engineering capabilities.

The companies said Carester will have long-term access to heavy rare earth feedstock from USA Rare Earth's Round Top deposit in Texas, which is anticipated to start commercial operation in late 2028.

The French government is also interested in providing further financial support to LCM Europe's metallization and alloy facility, USA Rare Earth and InfraVia said.

USA Rare Earth shares were down 2.3% in premarket activity.