Land Commissioner Buckingham Praises Finalization of $1.6 Billion USA Rare Earth and U.S. Department of Commerce Deal to Accelerate Mining on GLO State Land
Texas Insider Report: AUSTIN, Texas –Texas Land Commissioner Dawn Buckingham, M.D., is pleased to share that up to $1.6 billion in funding has been unlocked after USA Rare Earth (USAR) and the U.S. Department of Commerce (DOC) finalized agreements that aim to accelerate mining for rare earth and critical minerals at Round Top Mountain on Texas General Land Office (GLO) state-owned land in Hudspeth County.
"As a ninth-generation Texan, a mother, and Land Commissioner, there is nothing I will fight harder for than the futures of Texans and their families. For the sake of Texans and all Americans, China's monopoly on the supply chain of rare earth elements that power our national defense and economy must be crushed. In its place, we must build a domestic supply chain to end our reliance on foreign nations once and for all," said Commissioner Buckingham. "This critical funding will accelerate mining at Round Top Mountain, one of the largest deposits of heavy rare earth elements in the United States. Located on Texas state land, this property is key to unleashing American elemental independence. This is not only a win for job creation in Texas but for our schoolchildren whose educations are supported by the Permanent School Fund. This type of bold action taken toward elemental independence secures the Lone Star State's position as a leader in economic growth."
This funding will enable the Round Top Project to begin commercial production of heavy rare earth and critical minerals at Round Top Mountain in 2028. It will also support U.S.-based processing and separation of the output from this project. Heavy rare earth elements, vital mineral oxides, and concentrates include: dysprosium, terbium, yttrium, gadolinium, hafnium, erbium, thulium, lutetium, ytterbium, holmium, gallium, and zirconium. Securing domestic access to these 12 critical minerals and rare earth elements will strengthen America’s mine-to-magnet rare earth value chain.
In a letter addressed to the DOC in December of 2025, Commissioner Buckingham urged support for the Round Top Project to break China’s chokehold on rare earth elements (REEs) and safeguard America’s economic and national security. In January 2026, Commissioner Buckingham was pleased to applaud the Trump Administration’s decision to provide the necessary funding for the development of USAR's essential domestic supply of critical REEs after the USAR announced its entry into a non-binding Letter of Intent (LOI) with the DOC and a collaboration with the U.S. Department of Energy (DOE).
This deal is a fundamental step toward elemental independence from China, which will enhance national security and expand economic and employment opportunities for American citizens. This development will also deliver lasting benefits to generations of Texas schoolchildren.
Round Top Mountain is located on GLO-state-owned land. Over the life of the lease, the GLO will receive bonus payments and royalties that are constitutionally dedicated to the Texas Permanent School Fund–directly supporting K-12 public education statewide. The GLO has worked closely with USAR and regional stakeholders to ensure responsible development, local workforce opportunities, and sustained community engagement throughout the Round Top Project.
