USA Rare Earth Appoints Joshua Ballard as Chief Executive Officer

Core Viewpoint - USA Rare Earth, LLC has appointed Joshua Ballard as the new CEO, effective December 17, 2024, with a mission to establish a vertically integrated domestic rare earth magnet supply chain [1][3][4] Company Overview - USA Rare Earth is focused on developing a NdFeB magnet manufacturing plant in Stillwater, Oklahoma, and aims to control the supply chain for rare earth elements and critical minerals, including gallium [1][5] - The company holds mining rights to the Round Top heavy rare earth elements and critical minerals deposit in West Texas, which positions it strategically in the market [3][5] Leadership and Strategy - Joshua Ballard brings over 20 years of experience in finance and operations, having previously served as CFO of Energy Recovery, Inc., where he contributed to significant revenue growth and product diversification [2][3] - The Board Chair expressed confidence in Ballard's ability to lead the company towards becoming a leading domestic supplier of rare earth magnets, emphasizing the importance of re-establishing the U.S. rare earth supply chain amid global geopolitical tensions [3][4] Business Combination - USA Rare Earth has entered into a Business Combination Agreement with Inflection Point Acquisition Corp. II, which will result in the combined entity becoming publicly traded [3][4] - The proposed business combination is seen as a critical step in securing a domestic supply chain for essential resources, aligning with national priorities [4]