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Business / General

The Department of Commerce’s CHIPS Program Finalizes Definitive Agreement With USA Rare Earth For Up To $1.6 Billion To Support The Company’s “Mine-to-Magnet” Strategy

Source: nistElectronics June 3, 2026 · 05:00
The Department of Commerce’s CHIPS Program Finalizes Definitive Agreement With USA Rare Earth For Up To $1.6 Billion To Support The Company’s “Mine-to-Magnet” Strategy
Photo by Markus Winkler · Pexels
From the publisher
The Department of Commerce’s CHIPS Program Office announced the signing of a final award for up to $277 million in federal incentives and a loan agreement for up to $1.3 billion with USA Rare Earth (USAR) under the CHIPS and Science Act.

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