August 9, 2023
USA Rare Earth, LLC (USARE), a vertically integrated magnet technology company, announced today that it has entered into a strategic partnership with Hatch, a global engineering, project management, and professional services firm. Hatch serves as the lead engineering, procurement, construction management company (EPCM) for USARE and, as part of this collaboration, has signaled its alignment with an investment in USARE.
USARE is reconstructing a sintered magnet production facility in Stillwater, Oklahoma, and an extraction and separation facility in Sierra Blanca, Texas, to become the first mine-to-magnet producer in the USA. Demand for rare earth magnets is being driven by electric vehicles, windmills, medical devices, smart phones, and aerospace/defense applications, where high-performance in extreme conditions is important.
Hatch is globally known for its expertise in mineral extraction and processing. The company provides engineering solutions for the entire rare earths value chain, ranging from the mining and processing of raw materials to procurement, engineering, and construction management of rare earth metal alloys and magnets.
“Hatch continues to be an outstanding partner in engineering and constructing our rare earth magnet operations, and we are excited that they have also chosen to have a stake in our journey through their investment in our company,” said Tom Schneberger, CEO of USA Rare Earth. “We are on the path to building a fully vertically integrated rare earth magnet facility in the United States, and having established partners such as Hatch will play an important role in delivering on this critical vision.”
“The global transition towards cleaner, more sustainable energy solutions has sparked a surging demand for rare earth elements. These essential materials are key to propelling the world closer to a greener future,” shared John Bianchini, CEO of Hatch. “We are delighted to be a trusted partner with USA Rare Earth and participate with them to support their ambitious plan to reestablish a stable and secure rare earth supply chain in the USA and drive positive change by accelerating the world’s transformation to green technologies.”
Head of Communications
About USA Rare Earth, LLC: USA Rare Earth, LLC is a US-based, vertically integrated magnet technology company. USARE is poised to become the leading domestic supplier of rare earth magnets and heavy rare earth elements required for the electric vehicle, green energy, consumer electronics, and defense industries, as well as tech metals needed for chipsets, semiconductors, and 5G.
USA Rare Earth, LLC owns a magnet production facility in Stillwater, Oklahoma and the Round Top Heavy Rare Earth and Critical Minerals deposit in Hudspeth County, West Texas. For more information about USA Rare Earth, visit usare.com.
About Hatch: Whatever our clients envision, we can design and build. With over six decades of business and technical experience in the mining, energy, and infrastructure sectors, we know your business and understand that your challenges are changing rapidly. We respond quickly with solutions that are smarter, more efficient, and innovative. We draw upon our 10,000 staff with experience in over 150 countries to challenge the status quo and create positive change for our clients, our employees, and the communities we serve.
Find out more on www.hatch.com.