The world is being remade. New energy systems are augmenting old ones. New technologies are redefining what is possible in every aspect of our lives. And at the heart of this transformation are the rare earths and other critical elements we produce.
We exist to supply those materials. Responsibly. Reliably. At Scale. Across the World.
We command the full value chain — and we configure it with precision to reliably serve the needs of growing global and local markets alike. Our people bring world-class technology and deep operational know-how to every step of that chain, ensuring the materials we deliver are produced at scale to the highest standards of quality, efficiency and environmental responsibility.
We take that responsibility seriously. We build supply chains that are secure, transparent, diversified and resilient. We create lasting value for our shareholders, our employees, our communities and the societies whose success we share.
We think at the scale of the opportunity and act with the conviction to match it. We are builders and pioneers — willing to invest ahead of the curve, to challenge convention and to lead where others have not yet gone. Building the world’s leading rare earth enterprise demands boldness, and we embrace it.
We operate with integrity and transparency — with our people, our investors, our customers, our governments and our communities. We say what we mean, we do what we say, and we report our performance to internal and external stakeholders with openness and accuracy.
We are empowered to seek value but are personally and collectively accountable for the consequences of pursuing it. We recognise our role in broader society. We hold ourselves accountable to the highest standards of safety, environmental stewardship and community partnership. Zero harm is not a target we aim for; it is the baseline from which we operate. We are responsible for the development of our people and the optimal investment in our resources.
We pursue world-class performance at every stage of the value chain. We invest in the best people, who in turn, develop and deploy the leading technologies. We are not satisfied with good enough, because the world we are helping to build deserves better. It is only through the relentless pursuit of excellence that we can remain competitive. We will be better today than yesterday.
We move with speed and purpose. We are entrepreneurial at every level — empowering our people to identify opportunities, make decisions and act. We adapt to a changing world without losing sight of our long-term ambition, and we treat complexity as an invitation to innovate rather than a reason to hesitate.
Chief Executive Officer
Chief Executive Officer
Thras Moraitis was CEO of the Serra Verde Group from January 2023 until the completion of the Group’s combination with USA Rare Earth in September 2026. He is a highly experienced global mining executive.
He was previously a co-founder of X2 Resources and Group Head of Strategy and Corporate Affairs and a member of the Xstrata Plc Executive Committee. At Xstrata he was responsible for strategic development, post-acquisition integration, leadership development, external affairs and investor relations as well as Xstrata’s technology business. While at Xstrata, he was involved in some 40 transactions.
Thras began his career in the early 1980s as an engineer on the South African gold mines of General Mining Union Corporation (Gencor), followed by a series of entrepreneurial activities and, prior to joining Xstrata, was a global partner at the Monitor Group, a global advisory and merchant banking group.
Thras was previously the Chief Development Officer and a member of the Executive Board of EuroChem Group AG, a global fertilizer company and, prior to this, an Executive Director at Brilliant Planet, a growth company developing a scalable method for producing microalgae for food solutions and carbon sequestration.
He is an advisor to Vision Blue Resources.
Chief Financial Officer
Chief Financial Officer
Rob Steele has more than 30 years of experience in finance and investment banking, with a strong background in high-growth, disruptive companies. He has led over $28 billion in capital raises and M&A transactions across both public and private markets. His capital raising and strategic financial leadership supports USAR’s growth in both mining and magnet manufacturing as the company scales.
Prior to USAR, Steele served as Global Chief Financial Officer at Mujin Corp., a physical AI industrial robotics software company. Before that, he was Managing Director at Bank of America Securities responsible for equity, debt, and M&A transactions across disruptive high-growth industries including robotics, consumer electronics, food/agtech, and hospitality. He began his career at Ernst & Young in audit and litigation consulting.
Steele holds an MBA from UCLA Anderson School of Management and a BA in Business Economics from UC Santa Barbara
Chief Legal Officer
Chief Legal Officer
Valerie Ford Jacob is the Chief Legal Officer at USA Rare Earth, where she oversees all legal, regulatory, compliance, and public policy matters.
Ms. Jacob brings decades of experience advising on complex financings, mergers & acquisitions, and corporate governance matters for issuers, underwriters, special committees, and boards. Most recently, she served as partner and co-head of both the Financial Institutions Group and Global Capital Markets at Freshfields US LLP over a period of 10 years. Previously, she was chairperson and senior partner at Fried, Frank, Harris, Shriver & Jacobson LLP.
Ms. Jacob holds a B.S. from Boston University and a J.D. from Cornell Law School. She is also a member of The Committee of 200 (C200), an invitation only organization of leading women executives. She has been consistently recognized as a leading lawyer by numerous independent organizations, including Chambers Global, Chambers USA, IFLR1000, Legal 500, and Best Lawyers.
Chief Global Policy Officer
Chief Global Policy Officer
Colonel Gregory Bowman, U.S. Army (Retired), serves as Chief Global Policy Officer and Head of External Relations at USA Rare Earth, leading the company’s government relations, policy strategy, strategic communications, and global partnerships. He brings 26 years of active-duty military service, a distinguished career in defense and intelligence community strategy, and deep expertise in federal procurement law to USAR’s mission of securing the rare earth value chain for America and its allies.
Prior to USAR, Bowman served as Chief Strategy Officer and Senior Vice President of National Security Solutions at Siemens Government Technologies, where he developed the company’s multi-year corporate strategy and led market expansion into the Intelligence Community and Emerging Markets. He has previously served as the Strategic Military Law and Policy Advisor to the Secretary of the Army, on the US Defense Business Board (appointed by the Secretary of Defense), and as Chair of the AIA Digital Transformation Council.
Bowman holds a J.D. from the University of Virginia School of Law and an LL.M. in Military and Government Procurement Law from The Judge Advocate General’s Legal Center and School and a Master of Military Art and Science (Strategy) from the US Command and General Staff College.
He serves as a member of the Board of Directors of Hope for the Warriors, the Founding Council of PRISM, and the Strategic Council of the Silverado Policy Accelerator.
Group Head of Sustainability
Group Head of Sustainability
Markus Noethiger brings decades of international experience in sustainability and environmental strategy, programs and risk management. His career spans mining and extractives, financial services, manufacturing and other industries across Europe, the Americas, Africa, Asia and Australia.
Markus joined USA Rare Earth from Serra Verde Group, where he served as Group Head of Sustainability. Previous roles include Global Head of Sustainability at Xstrata plc (now part of Glencore), Partner at PricewaterhouseCoopers, and Head of Environmental Risk at Swiss Bank Corporation (now UBS).
He is the founder and a Partner at Enemco LLC, serves as sustainability adviser to Vision Blue Resources, and sits on the Board of Directors of Earth Resource Investments AG. He is also a member of the Sounding Board for Swiss gold refinery Argor-Heraeus and the Business Advisory Board of swisspeace.
Markus holds a master’s degree in Environmental Science from the Swiss Federal Institute of Technology Zurich (ETH Zurich).
Head of Upstream, USA
Head of Upstream, USA
Dr. Alex Moyes leads the development of mining operations, resource characterization, and process flowsheets for the Round Top project in West Texas. With oversight of upstream activities including mine planning, heap leaching, and separation technologies, he is instrumental in advancing USAR’s integrated mine-to-magnet strategy.
Prior to USAR, Moyes served as Director of Critical Minerals and Planning at Ramaco Resources, spearheading rare earth exploration, process flowsheet development, and techno-economic modeling. Before that, he served as Vice President of Economics and Planning at FREYR Battery, directing financial modeling and risk analysis for lithium battery projects. His earlier career at Dominion Energy focused on innovation in energy technologies, subsurface planning, and geoscience leadership.
Moyes holds four degrees from the University of Utah: a Ph.D. in Mining Engineering, an MBA, an MSc in Geology, and a BSc in Geoscience.
Head of Upstream, Brazil
Head of Upstream, Brazil
Ricardo Grossi is a Mining Engineer with 25 years of experience and particular expertise in the management and operation of concentration and pelletizing plants, ore pipelines and cargo terminals. He was previously a General Manager at Anglo American Brazil where he led the Minas Rio operation. He was COO of Serra Verde Group prior to its combination with USA Rare Earth.
Ricardo Grossi spent 16 years at Vale in different leadership positions, having been closely involved in the implementation of the Vargem Grande complex. Before joining Serra Verde, he served as COO at Companhia Siderúrgica Nacional (CSN).
Throughout his career Ricardo Grossi has participated in national and international technical missions to assist customers and was responsible for product development processes as well as strategic planning. His responsibilities have also included government relations in addition to the management of environmental licensing processes.
Head of Midstream
Head of Midstream
CK brings more than 20 years of experience across technology, consulting, and senior commercial leadership roles. A computer engineer by training, he began his career developing algorithms and software systems before moving into management consulting at Kearney, and subsequently into senior commercial and P&L leadership roles across the chemicals and industrials sector.
Most recently, CK served as Chief Commercial Officer at Ecobat, a global battery recycling platform with $2.5 billion in sales, where his commercial strategy drove a successful private equity exit. Prior to that, he was Chief Marketing Officer at Albemarle Corporation, the world’s largest lithium producer. Earlier in his career, he built his foundation in software engineering and consulting.
CK brings deep expertise in energy transition, battery materials, and critical minerals, along with a passion for growing businesses that accelerate electrification and secure global supply chains.
Head of Downstream
Head of Downstream
David Bushi leads USAR’s manufacturing operations at the Stillwater, Oklahoma sintered magnet production facility. He has more than 25 years of large-scale manufacturing experience and previously served as Vice President of Manufacturing for CoorsTek, a ceramics manufacturer in Golden, Colorado — experience directly applicable to the sintering, pressing, and thermal processing involved in permanent magnet production.
Bushi has a strong record of success heading high-volume manufacturing operations across the automotive, defense, and aerospace industries. He holds an MBA from Wayne State University and a BS in Electrical Engineering from Kettering University.
Group Head of Corporate Development
Group Head of Corporate Development
As Head of Strategy & Corporate Development, David is responsible for strategy, M&A and evaluating investment and partnership opportunities to further enhance USA Rare Earth’s competitiveness and long-term success.
Acting Head of People
Acting Head of People
Victoria Sprenger leads USAR’s people strategy with more than 20 years of experience across startups, national enterprises, and global corporations, including strategic talent acquisition, culture design, and workforce optimization. She creates strategies that eliminate talent bottlenecks, accelerate organizational effectiveness, and drive operational performance.
Prior to USAR, Sprenger held human resources roles at Forvis Mazars (formerly BKD), Oracle Health (formerly Cerner), and PaperWise. Before joining USAR in 2022, she was Director of HR for Little Sunshine’s Playhouse, a chain of preschools with more than 40 U.S. locations.
Sprenger holds a BS in Public Administration and an MBA from Missouri State University, with senior HR certifications through SHRM (SHRM-SCP) and HRCI (SPHR).
Frequently Asked Questions
Rare earths are a group of 17 elements found in the periodic table, including the 15 lanthanides plus scandium and yttrium. Fifteen of these 17 elements are present in the Round Top Mountain Deposit controlled by us and are considered critical for various commercial and defense technologies. Serra Verde’s Pela Ema operation is the first scaled operation outside Asia to produce all four critical magnetic rare earth elements: neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb).
USA Rare Earth is building the world’s leading rare earth value chain, from mine to magnet and beyond. Our primary product is sintered NdFeB (neodymium iron boron) permanent magnets — critical components in semiconductor, aerospace, defense, physical AI, energy, mobility, healthcare and consumer electronics industries. We operate across the United States, United Kingdom and Brazil, with planned operations in France, spanning rare earth production, research and development, metals and alloys, and magnet manufacturing.
Sintered neodymium iron boron (NdFeB) magnets are the strongest type of permanent magnet commercially available. Made from a sintered composite of neodymium, iron, and boron, their exceptional magnetic strength and energy density make them indispensable for applications requiring maximum performance in minimal volume in aerospace, defense, semiconductor, physical AI, energy, mobility, healthcare and consumer electronics industries.
Rare earth elements are essential components in virtually every modern weapons system, including aircraft, guided missiles, submarines, tanks, communication systems, satellites, and directed energy weapons. Access to a stable, domestic supply is vital to ensure defense capabilities are not compromised during conflict or geopolitical instability. Department of War: The January 2027 DFARS deadline will prohibit the Department of War from procuring rare earth magnets sourced from China, Russia, North Korea, or Iran — making domestic production an urgent national security priority.
China currently manufactures approximately 92% of the world’s sintered NdFeB permanent magnets. Japan produces a small share, primarily for domestic automotive use. The United States has had zero domestic sintered NdFeB magnet manufacturing capability until USAR’s Stillwater, Oklahoma facility.
Yes. In January 2025, USAR announced the successful production of its first batch of sintered permanent rare earth magnets at our Innovations Lab in Stillwater, Oklahoma. We are actively prototyping magnet grade recipes for defense, automotive, and industrial customers.
The Stillwater, Oklahoma magnet manufacturing facility is 310,000 square feet. Our Innovations Lab was commissioned in January 2025 and is actively producing prototype magnets. Commissioning of production Line 1a (1,200-metric-ton annual capacity) began in Q1 2026, with full-scale production capacity of nearly 3,600 metric tons annually across four production lines.
The U.S. government has committed to providing USAR with access to $1.6 billion through the Department of Commerce’s CHIPS and Science Act program, comprising $277 million in direct funding, in exchange for a minority equity stake, and a $1.3 billion senior secured loan. This partnership reflects bipartisan recognition that domestic rare earth capability is a matter of national security.
Unlike competitors who address only one segment of the rare earth value chain, USAR is building a business that spans every step: rare earth production and processing, resource development, metals and alloys, and finished sintered permanent magnet manufacturing. Our integrated platform brings together operations across the United States, United Kingdom and Brazil, with planned operations in France. “And beyond” refers to our commitment to serving downstream customers, building allied partnerships, and advancing the materials science and production technologies that ensure long-term supply chain sovereignty.
