USA Rare Earth Company considers building magnet factory in France

Glonghui, April 10 — According to Reuters, U.S. Rare Earth Company is considering building a magnet factory in France. The company has agreed to spend 40 million euros (approximately $47 million) to acquire a 12.5% stake in French rare earth processing company Carester, which is currently building a processing plant in southern France. U.S. Rare Earth Company's Chief Financial Officer Robert Steele stated that the magnet factory project is currently in the preliminary planning stage, but he declined to disclose a specific timetable or further details.