BUZZ-USA Rare Earth gains on tie-up with Enduro for neo magnets delivery

Reuters

Aug 12

BUZZ-<a href="https://laohu8.com/S/USAR">USA Rare Earth</a> gains on tie-up with Enduro for neo magnets delivery

** Shares of rare earth magnet company USA Rare Earth USAR.O rise 2.1% to $15.77 premarket

** Company signs memorandum of understanding with Enduro Pipeline Services for delivery of the its neo magnets, of which USAR plans to begin production in early 2026

** Enduro provides pipeline cleaning and inline inspection (ILI) tools; its advanced pipeline pigs, also known as "intelligent pigs" or "smart pigs," use high-powered neodymium magnets to collect ferrous debris, detect defects, and track their location within the pipeline

** USAR says the agreement is the latest in a series commissioning its innovations lab in Stillwater, Oklahoma, which mimics the production capabilities of its commercial manufacturing facility once commissioned in 2026

** Up till last close, stock up 34.5% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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