An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Texas Mineral Resources Joint Venture Partner Secures First Domestic Rare Earth Metal and Magnet Manufacturing Facility
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
SIERRA BLANCA, TX, June 09, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Texas Mineral Resources Corp. (OTCQB: TMRC) an exploration company currently targeting the heavy rare earths, technology metals and a variety of industrial minerals primarily through its 20% ownership interest in the Round Top Mountain project in Texas, is pleased to report that its joint venture partner USA Rare Earth Inc. today announced its procurement and development of the first fully integrated U.S.-based rare earth metal and sintered neo-magnet manufacturing facility, located in Stillwater, Oklahoma.
USA Rare Earth plans to invest more than $100 million in developing the manufacturing facility and will utilize its owned facilities and technology to convert rare earth oxides into metals, magnets and other specialty materials. These products have numerous applications, including electric vehicles, wind turbines, mobile electronic devices and military hardware. Initial production at the facility in Stillwater is expected to commence in 2023, with the project aiming to create more than 100 new jobs and generate over $6.6 million in wages once fully operational.
In 2020, USA Rare Earth acquired the only sintered neo-magnet manufacturing equipment in the western hemisphere. The company plans to have the necessary operating permits for all metal, flake, and magnet operations in 2022 with initial production to commence in 2023.
About Texas Mineral Resources Corp.
Texas Mineral Resources Corp.'s primary focus is to develop and commercialize, along with its joint venture operating partner USA Rare Earth LLC, the Round Top heavy-rare earth, technology metals, and industrial minerals project located in Hudspeth County, Texas, 85 miles southeast of El Paso, in which TMRC owns a 20% interest and USA Rare Earth owns an 80% interest. Additionally, the Company plans on developing other domestic mining projects in more traditional metals. The Company’s common stock trades on the OTCQB U.S. tier under the symbol “TMRC.”
texas mineral resources corp. acquires, explores, and develops mineral properties in the united states. it primarily holds interests in the round top rare earth-uranium-beryllium project covering 950 acres in hudspeth county, texas; and prospecting permits covering 9,345 acres adjacent to the round top project. the company was formerly known as texas rare earth resources corp. and changed its name to texas mineral resources corp. in march 2016. texas mineral resources corp. was incorporated in 1970 and is headquartered in sierra blanca, texas.
