HOUSTON, January 20th (Argus) - USAR, an American rare earth company headquartered in Oklahoma, announced today a plan to develop a rare earth element metal and alloy facility in France.
USAR plans to develop a 3,750-ton-per-year rare earth metal and alloy production facility through its subsidiary Less Common Metals (LCM) Europe in Lacq, southwestern France. The factory will be located at the same site as Carester's 1,600-ton-per-year Caremag rare oxide plant, which is scheduled to come online by the end of 2026.
USAR stated that the French government will provide credit for green industries under its tax credits. The plan offers up to 45% credit for eligible equipment and up to 130 million euros (152 million US dollars) credit for real estate.
The C31V tax incentive measures came into effect in 2024 and support investment in four industries promoting energy transition (batteries, solar panels, wind turbines, and heat pumps) and the extraction, production, conversion, and processing of key raw materials required by these industries.
USAR acquired LCM for 125 million US dollars in September 2025 to support the construction of a 5,000-ton-per-year magnet factory in the United States.
The Caremag plant will produce rare oxides from recycled permanent magnets and heavy rare earth concentrates. The design process will handle 2,000 tons per year of magnets, 5,000 tons per year of concentrates, and produce 800 tons per year of neodymium iron boron and 590 tons per year of dysprosium and terbium.
