USA Rare Earth partners with Carester and InfraVia to build a sustainable, integrated rare earth supply chain across Europe and North America.
USA Rare Earth, Inc. has announced a significant strategic move by entering into an investment term sheet with InfraVia to jointly acquire equity stakes in Carester SAS. Under this agreement, both USA Rare Earth and InfraVia are expected to hold approximately 12.5% ownership in Carester. InfraVia is participating through its Critical Metals Fund, which is backed by the French State along with private institutional investors.
This collaboration extends beyond financial investment and establishes a comprehensive industrial partnership. USA Rare Earth and its subsidiary, Less Common Metals, will gain the right to purchase a portion of oxide output from Carester’s upcoming Caremag facility. Additionally, USA Rare Earth will benefit from access to Carester’s advanced engineering expertise and intellectual property in rare earth separation, processing, and recycling technologies. In return, Carester will secure long-term access to heavy rare earth feedstock from USA Rare Earth’s Round Top deposit in Texas, which is projected to begin commercial operations by late 2028. Completion of this transaction depends on standard conditions such as due diligence and final agreement documentation.
Founded in 2019, Carester has established itself as a leader in rare earth separation technologies, focusing on innovation and environmentally sustainable industrial processes. The company supports the full value chain—from sourcing raw materials to producing high-purity rare earth oxides essential for industries like renewable energy, electric vehicles, and electronics. Carester is currently constructing its Caremag facility in Lacq, France, which will specialize in magnet recycling and heavy rare earth separation, with commissioning expected in late 2026.
The partnership is part of a broader initiative to develop an integrated rare earth industrial platform in Lacq. This platform aims to combine the technological capabilities and production strengths of USA Rare Earth, LCM Europe, and Carester to create a fully integrated value chain encompassing processing, metal and alloy production, and magnet manufacturing. Concurrently, USA Rare Earth—through LCM Europe—is developing a 3,750 metric tons per annum metal and alloy production facility at the same location, further strengthening this ecosystem.
Support from the French government plays a crucial role in this initiative. Authorities have expressed interest in providing additional financial assistance to LCM Europe’s metallization and alloy operations. This includes potential funding through the C3IV program, which may cover up to 45% of eligible equipment and real estate costs, capped at €130 million. Furthermore, Bpifrance Assurance Export may offer a state guarantee covering up to 50% of commercial debt financing for project capital expenditures.
The creation of this integrated platform aligns with France’s strategic goals of strengthening industrial independence and ensuring supply chain resilience for critical materials. By securing access to rare earth resources and developing advanced processing capabilities, the initiative supports the transition to sustainable energy and advanced technologies across Europe.
Leaders from all parties have emphasized the importance of this collaboration. Barbara Humpton highlighted that the partnership enhances the company’s global rare earth value chain and supports a secure, sustainable transatlantic supply network. Roland Lescure noted that the initiative positions France as a global leader in midstream rare earth capabilities, backed by strong governmental support. Meanwhile, Frédéric Carencotte emphasized that the investment will accelerate Carester’s growth while ensuring Europe’s access to critical heavy rare earth materials.
Overall, this partnership represents a major step toward building a resilient, circular, and sustainable rare earth ecosystem across Europe and North America.
