Strategic Materials
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USUnited StatesU.S. Department of Commerce (CHIPS Program Office)

USA Rare Earth, Inc.

Stillwater Magnet Project

CommitmentInstrument not specifiedPublicContracted

fin-us-chips-usar-2026-stillwater-magnet-direct-funding

Reading this record

What the evidence says — and does not say

What kind of figure?
CommitmentMoney, or a money-like promise, committed to a named recipient or project. The only role ever summed.
What has happened legally?
ContractedA binding agreement has been executed. Not a payment, and not necessarily an obligation of funds: an agreement can leave that to a later step.
Has money been paid?
Follow the payment evidenceThis status does not itself establish a cash payment. In particular, a signed contract does not necessarily establish an obligation of funds.
What does it link to?
Project attributionOne registered project is linked directly to this row. The link alone does not prove the amount was paid or that the project advanced.

This is a commitment role, but the financial status still determines legal standing and payment. Funding and verified industrial outcomes remain separate. A financial record alone never independently verifies construction, commissioning or production. Read SMPT's counting and evidence rules.

Amount

up toUSD50 million

As stated “(b) $50.0 million for the expansion and modernization of the existing magnet making facility located in Stillwater, Oklahoma”

USD 50,000,000 · Up to · Currency stated in the source

Place in the money chain

A figure is never counted together with a figure it is part of or drawn from.

Record

Provider
U.S. Department of Commerce (CHIPS Program Office)U.S. Department of CommerceGovernment body
Legal authority
Not stated
Programme
CHIPS Incentives Program
Recipient
USA Rare Earth, Inc.USA Rare Earth, Inc.Company
Project
Stillwater Magnet ProjectStillwater Magnet Project capital stack →
Facility
Not stated
Location
Stillwater, OklahomaUS
Stages
Component manufacturingSingle stage
Materials
Rare-earth permanent magnets (NdFeB)Tracked materials only

Status

Financial and physical progress are separate histories. The last entry is current.

Financial

  1. Contractedcurrent

    Direct Funding Agreement entered into on 3 June 2026. Signing obligates no funds: under Exhibit 10.1 Section 2.1(b) the Department obligates funds only when it delivers a Funding Obligation, and disbursements follow project milestones, subject to conditions precedent.

    USA Rare Earth, Inc. / U.S. Securities and Exchange Commission (EDGAR)

Implementation

No source states the physical status of a project for this row.

Notes

Instrument not specified, as on the package: the 8-K calls this a "direct funding award" and the executed agreement defines Direct Funding as "in the form of an other transaction", never a grant.

Evidence

Every populated field names the source that states it, how directly, and where.

  1. USA Rare Earth, Inc. Form 8-K (June 3, 2026): Direct Funding Agreement and Loan Guarantee Agreement with the Department of Commerce

    USA Rare Earth, Inc. / U.S. Securities and Exchange Commission (EDGAR)

    Fields supported
    Value role · Capital source · Amount · Related commitments · Provider · Programme · Recipient · Project · Status · Location
    Evidence level
    Explicit
    Location in document
    Item 1.01, Direct Funding (b)
    View source dossier →

  2. USA Rare Earth, Inc. Form 8-K (June 3, 2026): Direct Funding Agreement and Loan Guarantee Agreement with the Department of Commerce

    USA Rare Earth, Inc. / U.S. Securities and Exchange Commission (EDGAR)

    Fields supported
    Instrument
    Evidence level
    Ambiguous
    Location in document
    Item 1.01, Direct Funding (b)
    Qualification
    The filing calls them "direct funding awards" that reimburse eligible costs on milestones and never calls them grants; recorded as instrument not specified.
    View source dossier →

  3. Direct Funding Agreement, dated June 3, 2026, by and among USA Rare Earth, Inc., the subsidiary guarantors party thereto and the United States Department of Commerce (Exhibit 10.1 to Form 8-K)

    USA Rare Earth, Inc. / U.S. Securities and Exchange Commission (EDGAR)

    Fields supported
    Instrument
    Evidence level
    Ambiguous
    Location in document
    Article 1, definitions of “Direct Funding” and “CHIPS Incentives”; Section 2.1(a)(ii)
    Qualification
    The executed agreement defines "Direct Funding" as "direct funding under the NOFO in the form of an other transaction" and lists grants, cooperative agreements and other transactions as separate forms of CHIPS Incentives. It never calls the awards grants. The vocabulary has no instrument for an other transaction, so the instrument is recorded as not specified, not as grant.
    View source dossier →

  4. Direct Funding Agreement, dated June 3, 2026, by and among USA Rare Earth, Inc., the subsidiary guarantors party thereto and the United States Department of Commerce (Exhibit 10.1 to Form 8-K)

    USA Rare Earth, Inc. / U.S. Securities and Exchange Commission (EDGAR)

    Fields supported
    Status
    Evidence level
    Explicit
    Location in document
    Section 2.1(b)
    Qualification
    Contracted means the agreement is executed: no obligation of funds for this project's award occurs on execution, only when the Department delivers a Funding Obligation, up to the project's scheduled cumulative disbursement amount and subject to its progress.
    View source dossier →

  5. The Department of Commerce’s CHIPS Program Announces a Letter of Intent with USA Rare Earth to Accelerate Its Domestic and Vertically Integrated "Mine-to-Magnet" Strategy

    National Institute of Standards and Technology (U.S. Department of Commerce, CHIPS Program Office)

    Fields supported
    Supply-chain stages · Materials
    Evidence level
    Explicit
    Location in document
    Third and fourth paragraphs
    Qualification
    The Commerce release says the Stillwater project will increase "production capacity of NdFeB magnets to 10,000 TPA".
    View source dossier →