"There may be an exception to that saying: helping U.S. companies compete in rare earths, a realm where China now dominates mining, refining, and manufacturing. That commitment certainly matters to Barbara Humpton, who last month left the top job at Siemens USA to become CEO of USA Rare Earth. Founded in Oklahoma in 2019, the company's mission is to develop a domestic supply chain for magnets made with rare-earth elements, which are critical in everything from electric vehicles and computers to renewable energy and advanced manufacturing."
""I'm delighted that I've arrived to find that the Trump administration is laser-focused on this," she told me. "In the case of semiconductors, the U.S. holds some really important cards, but in rare earths, it's rather the opposite, right?" Washington has not yet bought a stake in USA Rare Earth (market cap $1.62 billion), but Humpton said she's been in close communication with the Administration."
Barbara Humpton left Siemens USA to become CEO of USA Rare Earth, founded in Oklahoma in 2019 to develop a domestic supply chain for magnets using rare-earth elements. Rare-earth elements are critical for electric vehicles, computers, renewable energy, and advanced manufacturing. China currently dominates mining, refining, and manufacturing of rare earths. Humpton reports close communication with the Administration and notes that Washington has not purchased a stake in USA Rare Earth. The company plans to invest in fragile parts of the supply chain, scale production, and remove bottlenecks. The company acquired U.K.-based Less Common Metals to scale non-Chinese metal and alloy production.
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