Does France Emerge as Rare Earth Hub? USA Rare Earth Hedges Its Biggest Risk Midstream with 12.5% Interest in Carester

[DOC]

USA Rare Earth's Carester investment hedges midstream risk. Rare earth separation, not mining, determines supply chain success. (read full article...)

 

[Deven]

USA Rare Earth's Carester investment hedges midstream risk. Rare earth separation, not mining, determines supply chain success. (read full article...)

www.lesscommonmetals.com/less-common-metals-establishes-strategic-presence-in-france-to-support-eu-supply-chains/#:~:text=LCM%20is%20considering%20Lacq%20as%20the%20location,Europe%20*%20Reinforcing%20regional%20supply%20chain%20resilience

{USAR subsidiary] UK-Based LCM announced construction of a plant in Lacq France in mid 2025, likely based on expectations of a relationship with Carester.
But in my view the capital infusion is probably related in good part to this statement: "The broader partnership provides the Company [USAR] and its subsidiary Less Common Metals (“LCM”) Europe the right to purchase some of Carester’s oxide output from its Caremag facility and access for USA Rare Earth to Carester engineering capabilities and related intellectual property for separation, processing, and recycling".

If you recall back in time...
USA Rare Earth spent years promoting a "Continuous Ion Exchange" (CIX) technology as the game-changing process that would make Round Top’s low-grade ore economically viable. Then abruptly in December 2025, USA Rare Earth nonchalantly announced it was switching to heap leaching and standard Solvent Extraction techniques instead. I believe the Definitive Feasibility Study for Round Top is expected to be complete by early 2027. It may be that Carester now plays a part in what that solution will look like.

 

[Les Confer]

www.lesscommonmetals.com/less-common-metals-establishes-strategic-presence-in-france-to-support-eu-supply-chains/#:~:text=LCM%20is%20considering%20Lacq%20as%20the%20location,Europe%20*%20Reinforcing%20regional%20supply%20chain%20resilience

{USAR subsidiary] UK-Based LCM announced construction of a plant in Lacq France in mid 2025, likely based on expectations of a relationship with Carester.
But in my view the capital infusion is probably related in good part to this statement: "The broader partnership provides the Company [USAR] and its subsidiary Less Common Metals (“LCM”) Europe the right to purchase some of Carester’s oxide output from its Caremag facility and access for USA Rare Earth to Carester engineering capabilities and related intellectual property for separation, processing, and recycling".

If you recall back in time...
USA Rare Earth spent years promoting a "Continuous Ion Exchange" (CIX) technology as the game-changing process that would make Round Top’s low-grade ore economically viable. Then abruptly in December 2025, USA Rare Earth nonchalantly announced it was switching to heap leaching and standard Solvent Extraction techniques instead. I believe the Definitive Feasibility Study for Round Top is expected to be complete by early 2027. It may be that Carester now plays a part in what that solution will look like.

Deven:
Rainbow Rare Earths is another player that was far into "continuous ion chromatography" (CIC) but then decided to go with solvent extraction instead. Their Nov. 25, 2025 announcement talks much about "de-risking" their capital investment as they move ahead with constructing their separation plant. Sorry, not good at copy/paste hyperlinks as you are or would do that for you.

Hard to always tell why a company chooses the "tried and true" process technology over a "game changer" (e.g. cap invest, total op cost, EHS issues, etc.). Have followed REE midstream separation processing for about six months now and become aware of just a handful of companies that are going with a (hopefully) game changer approach:
Metallium
ReElement
Nth Cycle
Caldera Holdings
DEScycle
Ionic Technologies
Would appreciate it if you know of others and would pass them along to me and other REExchanges members.
Thanks.
Les

www.lesscommonmetals.com/less-common-metals-establishes-strategic-presence-in-france-to-support-eu-supply-chains/#:~:text=LCM%20is%20considering%20Lacq%20as%20the%20location,Europe%20*%20Reinforcing%20regional%20supply%20chain%20resilience

{USAR subsidiary] UK-Based LCM announced construction of a plant in Lacq France in mid 2025, likely based on expectations of a relationship with Carester.
But in my view the capital infusion is probably related in good part to this statement: "The broader partnership provides the Company [USAR] and its subsidiary Less Common Metals (“LCM”) Europe the right to purchase some of Carester’s oxide output from its Caremag facility and access for USA Rare Earth to Carester engineering capabilities and related intellectual property for separation, processing, and recycling".

If you recall back in time...
USA Rare Earth spent years promoting a "Continuous Ion Exchange" (CIX) technology as the game-changing process that would make Round Top’s low-grade ore economically viable. Then abruptly in December 2025, USA Rare Earth nonchalantly announced it was switching to heap leaching and standard Solvent Extraction techniques instead. I believe the Definitive Feasibility Study for Round Top is expected to be complete by early 2027. It may be that Carester now plays a part in what that solution will look like.

 

[Deven]

Deven:
...
Have followed REE midstream separation processing for about six months now and become aware of just a handful of companies that are going with a (hopefully) game changer approach:
Metallium
ReElement
Nth Cycle
Caldera Holdings
DEScycle
Ionic Technologies
Would appreciate it if you know of others and would pass them along to me and other REExchanges members.
Thanks.
Les

Hi Les, Yes, actually I'm working on just that currently. I will make the information available. There are a considerable number of companies with different approaches and proprietary processes. Cheers.

 

[Deven]

Deven:
Rainbow Rare Earths is another player that was far into "continuous ion chromatography" (CIC) but then decided to go with solvent extraction instead. ...
Would appreciate it if you know of others and would pass them along to me and other REExchanges members.
Thanks.
Les

HI Les,
I working on a list, but not sure how soon I will have it.
The ones that initially impress me the most 'technologically' are: Metallium (FJH), Phoenix Tailings (MSE), Supra Elemental (SMC), IBC Advanced Tech (MRT), and Emulsion Flow Tech (EF).
There are dozens more though.
Cheers

 

[John]

This is what I have been saying for a while...the banks don't like new tech. They only want proven tech.....

So if you want the money...you gotta go backwards to go forwards.