USA Rare Earth, Inc.
Stillwater Metal Project
fin-us-chips-usar-2026-stillwater-metal-loan-guarantee
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
As stated “(c) $100.0 million for the Stillwater Metal Project”
USD 100,000,000 · 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.
This row is part of
Stated by USA Rare Earth, Inc. / U.S. Securities and Exchange Commission (EDGAR) · Item 1.01, FFB Advances (c)
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 Metal ProjectStillwater Metal Project capital stack →
- Facility
- Not stated
- Location
- Stillwater, OklahomaUS
- Stages
- RefiningSingle stage
- Materials
- Rare earth elements (grouped)Tracked materials only
Status
Financial and physical progress are separate histories. The last entry is current.
Financial
- Contractedcurrent
Loan Guarantee Agreement entered into on 3 June 2026; each Federal Financing Bank advance is 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.
Evidence
Every populated field names the source that states it, how directly, and where.
USA Rare Earth, Inc. / U.S. Securities and Exchange Commission (EDGAR)
- Fields supported
- Instrument · Value role · Capital source · Amount · Related commitments · Provider · Programme · Recipient · Project · Status · Location
- Evidence level
- Explicit
- Location in document
- Item 1.01, FFB Advances (c)
National Institute of Standards and Technology (U.S. Department of Commerce, CHIPS Program Office)
- Fields supported
- Supply-chain stages · Materials
- Evidence level
- Ambiguous
- Location in document
- Third and fourth paragraphs
- Qualification
- Strip casting and metal making for rare earth metals and alloys (Commerce release), read as the refining stage.
| Source | Fields supported | Evidence level | Location |
|---|---|---|---|
| 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) · Source dossier |
| Explicit | Item 1.01, FFB Advances (c) |
| 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) · Source dossier |
| Ambiguous Strip casting and metal making for rare earth metals and alloys (Commerce release), read as the refining stage. | Third and fourth paragraphs |