MineralRite Corp (RITE)

[M_agnat/eria57]

USA Rare Earth also has a Round Top processing project in West Texas and has acquired a magnet plant formerly owned by Hitachi. It wants to set up a domestic supply chain for rare earth magnets that are used in electric vehicles, wind turbines, smartphones, medical devices and 5G networks. According to Castellano, USA Rare Earth would generate $140 million in annual sales.