USA Rare Earth and The StudBuddy® Sign Memorandum of Understanding for Delivery of U.S.-Made Neo Magnets
USA Rare Earth (NASDAQ: USAR) has signed a memorandum of understanding (MOU) with The StudBuddy®, a magnetic stud finder tool manufacturer, to supply U.S.-made neo magnets. The partnership follows USAR's recent commissioning of its Innovations Lab in Stillwater, Oklahoma on March 31.
The agreement aims to establish a domestic rare earth magnet supply chain, with USAR planning to deliver approximately 20 metric tons of finished sintered neodymium magnets annually to StudBuddy. This collaboration represents USAR's first customer announcement and aligns with both companies' commitment to domestic manufacturing and production.
The partnership will progress toward a detailed multi-year supply agreement, supporting StudBuddy's goal of maintaining a fully domestic supply chain for their magnetic stud finder tools, which use neodymium magnets for locating nails and screws behind drywall.
USA Rare Earth (NASDAQ: USAR) ha firmato un memorandum d'intesa (MOU) con The StudBuddy®, produttore di strumenti magnetici per la ricerca di chiodi, per la fornitura di magneti neo prodotti negli Stati Uniti. Questa collaborazione segue l'inaugurazione del laboratorio di innovazione di USAR a Stillwater, Oklahoma, avvenuta il 31 marzo.
L'accordo punta a creare una catena di approvvigionamento nazionale di magneti in terre rare, con USAR che prevede di fornire a StudBuddy circa 20 tonnellate metriche di magneti sinterizzati al neodimio finiti all'anno. Questa partnership rappresenta il primo annuncio di cliente per USAR e riflette l'impegno di entrambe le aziende nella produzione e manifattura interna.
La collaborazione si svilupperà verso un accordo pluriennale dettagliato, supportando l'obiettivo di StudBuddy di mantenere una catena di fornitura completamente nazionale per i propri strumenti magnetici, che utilizzano magneti al neodimio per individuare chiodi e viti dietro le pareti in cartongesso.
USA Rare Earth (NASDAQ: USAR) ha firmado un memorando de entendimiento (MOU) con The StudBuddy®, fabricante de herramientas magnéticas para localizar clavos, para suministrar imanes neo fabricados en EE.UU. Esta asociación sigue a la reciente inauguración del Laboratorio de Innovación de USAR en Stillwater, Oklahoma, el 31 de marzo.
El acuerdo tiene como objetivo establecer una cadena de suministro nacional de imanes de tierras raras, con USAR planeando entregar aproximadamente 20 toneladas métricas anuales de imanes de neodimio sinterizados terminados a StudBuddy. Esta colaboración representa el primer anuncio de cliente de USAR y está alineada con el compromiso de ambas compañías con la fabricación y producción doméstica.
La alianza avanzará hacia un acuerdo de suministro detallado y plurianual, apoyando la meta de StudBuddy de mantener una cadena de suministro completamente nacional para sus herramientas magnéticas, que utilizan imanes de neodimio para localizar clavos y tornillos detrás del drywall.
USA Rare Earth (NASDAQ: USAR)는 자석식 스터드 파인더 도구 제조업체인 The StudBuddy®와 미국산 네오디뮴 자석 공급을 위한 양해각서(MOU)를 체결했습니다. 이번 협력은 3월 31일 오클라호마 주 스틸워터에 위치한 USAR의 혁신 연구소 개소에 이은 것입니다.
이 계약은 국내 희토류 자석 공급망 구축을 목표로 하며, USAR는 연간 약 20미터톤의 완제품 소결 네오디뮴 자석을 StudBuddy에 공급할 계획입니다. 이번 협력은 USAR의 첫 고객 발표이며, 양사의 국내 제조 및 생산에 대한 의지를 반영합니다.
파트너십은 상세한 다년간 공급 계약으로 발전할 예정이며, StudBuddy가 석고보드 뒤의 못과 나사를 찾는 데 사용하는 네오디뮴 자석 기반 자기 스터드 파인더 도구의 완전한 국내 공급망 유지 목표를 지원합니다.
USA Rare Earth (NASDAQ : USAR) a signé un protocole d'accord (MOU) avec The StudBuddy®, fabricant d'outils magnétiques pour détecter les montants, afin de fournir des aimants néodymes fabriqués aux États-Unis. Ce partenariat fait suite à l'inauguration récente du laboratoire d'innovation de USAR à Stillwater, Oklahoma, le 31 mars.
L'accord vise à établir une chaîne d'approvisionnement nationale en aimants de terres rares, USAR prévoyant de livrer environ 20 tonnes métriques annuelles d'aimants en néodyme frittés finis à StudBuddy. Cette collaboration représente la première annonce client de USAR et reflète l'engagement des deux entreprises envers la fabrication et la production nationales.
Le partenariat évoluera vers un accord d'approvisionnement pluriannuel détaillé, soutenant l'objectif de StudBuddy de maintenir une chaîne d'approvisionnement entièrement nationale pour ses outils magnétiques, qui utilisent des aimants en néodyme pour localiser les clous et vis derrière les plaques de plâtre.
USA Rare Earth (NASDAQ: USAR) hat eine Absichtserklärung (MOU) mit The StudBuddy®, einem Hersteller magnetischer Bolzensucher, unterzeichnet, um in den USA hergestellte Neodym-Magnete zu liefern. Die Partnerschaft folgt auf die kürzliche Inbetriebnahme des Innovationslabors von USAR in Stillwater, Oklahoma, am 31. März.
Die Vereinbarung zielt darauf ab, eine nationale Lieferkette für seltene Erden-Magnete aufzubauen, wobei USAR plant, jährlich etwa 20 metrische Tonnen fertige gesinterte Neodym-Magnete an StudBuddy zu liefern. Diese Zusammenarbeit stellt die erste Kundenankündigung von USAR dar und entspricht dem Engagement beider Unternehmen für inländische Fertigung und Produktion.
Die Partnerschaft wird sich zu einer detaillierten mehrjährigen Liefervereinbarung entwickeln und unterstützt StudBuddys Ziel, eine vollständig inländische Lieferkette für ihre magnetischen Bolzensucher aufrechtzuerhalten, die Neodym-Magnete zur Lokalisierung von Nägeln und Schrauben hinter Gipskartonplatten verwenden.
- First customer agreement secured for neodymium magnet supply
- Commitment for 20 metric tons annual magnet delivery
- Successfully commissioned Innovations Lab in Stillwater
- None.
Insights
USAR's first commercial partnership marks significant step toward building domestic rare earth magnet production capability in a critical sector.
This memorandum of understanding represents a strategic milestone for USA Rare Earth as it establishes their first commercial customer relationship following the March commissioning of their Innovations Lab. The agreement outlines plans to deliver approximately 20 metric tons of finished sintered neodymium magnets annually to The StudBuddy, providing USAR with a defined initial market for their domestic production capacity.
The significance extends beyond the immediate business relationship. Neodymium magnets represent a critical component in countless applications, yet the U.S. currently lacks domestic production capability for these essential materials. This partnership directly addresses the strategic vulnerability in the rare earth supply chain that has concerned both industry and government stakeholders.
The StudBuddy partnership validates USAR's business model by demonstrating commercial interest in domestically-sourced rare earth magnets despite the historically higher production costs associated with U.S. manufacturing. As specified in the announcement, both companies share a commitment to domestic production despite "increased costs and supply challenges" typically associated with U.S. manufacturing.
While still an MOU rather than a finalized agreement, this partnership signals USAR's transition from development into early commercialization. The specified volume of 20 metric tons annually provides a concrete initial production target as discussions progress toward a formal multi-year supply agreement.
The timing of this announcement, coming shortly after commissioning their Stillwater facility, suggests USAR is executing on its stated mission to establish a complete domestic rare earth supply chain from mining through magnet production.
New Partnership Underscores the Companies’ Shared Commitment to Securing a Domestic Rare Earth Supply Chain and Supporting U.S. Manufacturing
STILLWATER, Okla., April 22, 2025 (GLOBE NEWSWIRE) -- USA Rare Earth, Inc. (Nasdaq: USAR) (USAR or the Company), which is building out a domestic rare earth element magnet production supply chain that includes the mining and processing of heavy rare earths and other critical minerals, today announced it has signed a memorandum of understanding (MOU) with The StudBuddy®, maker of the world’s simplest magnetic stud finder tool.
The MOU reflects USAR’s mission to establish and secure a domestic rare earth magnet supply chain for critical U.S. industries and everyday consumer products. This partnership, which brings together two organizations committed to domestic development and production, represents a significant milestone in the Company’s journey to bring the rare earth magnet industry to the U.S. following the March 31 commissioning of its Innovations Lab in Stillwater, Oklahoma.
Discussions will now progress toward a detailed multi-year supply agreement in which USAR will deliver approximately 20 metric tons of finished sintered neodymium magnets to StudBuddy annually.
“USA Rare Earth intends to bring high-powered magnet production back the to the U.S., and we are thrilled that our first customer announcement is with a quintessential American success story like The StudBuddy,” said Joshua Ballard, CEO of USA Rare Earth. “Weston Bernsen and his team, who share our commitment to U.S. manufacturing, are exactly the kind of customer we’re proud to partner with. I’m excited for what lies ahead.”
The StudBuddy was invented by Collin Bernsen, a framer, carpenter, builder, designer and general contractor seeking a simpler and more accurate way of locating framing studs behind drywall. Collin discovered the ease of locating nails and screws behind drywall using neodymium magnets, and therefore, stud location. This led to the patent and design of a simple device that would locate studs and hang on the wall for visual reference, which ultimately created The StudBuddy.
"We at The StudBuddy have been committed to supporting domestic manufacturing and suppliers from the very beginning,” said Weston Bernsen, Vice-President at The StudBuddy. “We have done all we can, despite increased costs and supply challenges, to source components from and produce our products in the United States. Continuing our pursuit of a fully domestic supply chain, we are proud to announce our partnership with USA Rare Earth, which will soon supply the high-powered permanent rare earth magnets we use in every one of our products. Over the coming years, not only will these magnets be made in the USA, but the raw material mining and oxide production will be fully vertically integrated domestically under the USA Rare Earth umbrella. What was once a dream is quickly becoming a reality, and we are very optimistic for what the future holds."
For more information, please visit USARE.com and connect with us on LinkedIn and X.
About USA Rare Earth
USA Rare Earth is building a vertically integrated, domestic rare earth magnet production supply chain. USAR is currently constructing a 310k square foot rare earth sintered neo magnet manufacturing facility in Stillwater, Oklahoma. USAR also controls mining rights to the Round Top Mountain rare earth and critical minerals deposit in West Texas, which holds significant deposits of heavy rare earths, such as dysprosium and terbium, as well as gallium, beryllium, lithium and other critical tech minerals. USAR’s permanent neo magnets and rare earth minerals are required for a wide variety of products used in the defense, automotive, aviation, industrial, medical, and consumer electronics industries.
Forward-Looking Statements
Certain statements made in this press release are "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may generally be identified by the use of words such as "estimate," "projects," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "would," "should," "future," "propose," "potential," "target," "goal," "objective," "outlook" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements.
These forward-looking statements include, but are not limited to, statements regarding the financial position, business strategy and the plans and objectives of management for future operations. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of USA Rare Earth’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of the parties, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this presentation, except as required by law.
Investor Relations Contact:
Lionel McBee
VP, Investor Relations
lionel.mcbee@usare.com
Media Relations Contact:
Cricket PR
Brian Hyland
(201) 410-4563
USARE@cricketpr.com
FAQ
What is the annual neodymium magnet supply agreement between USAR and StudBuddy?
When was USA Rare Earth's Innovations Lab in Stillwater commissioned?
What type of magnets will USAR manufacture for StudBuddy's stud finder tools?
How does this partnership impact USA Rare Earth's domestic supply chain strategy?
