Texas signed two rare earth mineral leases to expand the Round Top Project and reduce dependence on China, Land Commissioner Dawn Buckingham said.
“Texas has the land, the resources, and the workforce to lead America into a new era of critical mineral production,” said Buckingham. “For too long, communist China has controlled resources essential to our economy and national security. We are changing that right here in the Lone Star State.”
The leases expand the Round Top Project, the nation’s most advanced heavy rare earth development. The project contains 16 of the 17 rare earth elements and provides a strategic source of dysprosium and terbium, which are vital for high-performance permanent magnets used in electric vehicles, wind turbines, and missile guidance systems. Round Top plans to begin commercial production in 2028.
“These resources are essential to national defense, advanced manufacturing, and energy technologies. Yet for decades, the United States has depended heavily on foreign adversaries for their supply,” noted the General Land Office.
Covering 1,000 acres in Hudspeth County, the new leases advance Texas’ efforts to establish its first dedicated rare earth mining district.
“Round Top Mountain has already put Texas on the map for domestic rare earth and critical mineral development, with USA Rare Earth serving as the founding partner in advancing this vision. These new leases with El Paso Minerals Corp. build on that momentum and demonstrate what the responsible development of Texas state land can accomplish,” stated Buckingham.
Alex Moyes, senior vice president of mining and separation for USA Rare Earth, praised Buckingham’s leadership. “Her support for responsible resource development and policies that encourage investment have helped position Texas and USA Rare Earth as a leader in critical minerals and rare earth development. We are grateful for her partnership and for her commitment to strengthening American and Allies supply chains, creating jobs, and advancing long-term economic growth while helping secure the resources essential to our nation’s future.”
Cesar Gonzalez, CEO of El Paso Minerals, said, “Our existing private leases, together with these new GLO leases, give El Paso Minerals the largest land position in the district, which we believe has the potential to supply a meaningful percentage of U.S. heavy rare earth demand and eventually eliminate America’s dependence on China. We are now preparing to drill our primary target and are excited to be working with Commissioner Buckingham and the Texas GLO.”
Earlier this year, Commissioner Buckingham allotted up to $1.6 billion for the Round Top’s mine-to-magnet supply chain to “keep America’s mineral resources under American control—from the ground to the finished product.”
“China should not control the minerals America needs for technology, energy, manufacturing, and national defense. We need to mine our precious rare earth elements here, process them here, and build them here for the next generation of Texans,” stated Buckingham.
