<SEC-DOCUMENT>0001013762-25-001157.txt : 20250321
<SEC-HEADER>0001013762-25-001157.hdr.sgml : 20250321
<ACCEPTANCE-DATETIME>20250321193054
ACCESSION NUMBER:		0001013762-25-001157
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250313
FILED AS OF DATE:		20250321
DATE AS OF CHANGE:		20250321

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Critical Minerals Trust
		CENTRAL INDEX KEY:			0002061105
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41711
		FILM NUMBER:		25761969

	BUSINESS ADDRESS:	
		STREET 1:		100 W AIRPORT ROAD
		CITY:			STILLWATER
		STATE:			OK
		ZIP:			74075
		BUSINESS PHONE:		917-399-3626

	MAIL ADDRESS:	
		STREET 1:		100 W AIRPORT ROAD
		CITY:			STILLWATER
		STATE:			OK
		ZIP:			74075

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			USA Rare Earth, Inc.
		CENTRAL INDEX KEY:			0001970622
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				981720278
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		100 W AIRPORT ROAD
		CITY:			STILLWATER
		STATE:			OK
		ZIP:			74075
		BUSINESS PHONE:		813-867-6155

	MAIL ADDRESS:	
		STREET 1:		100 W AIRPORT ROAD
		CITY:			STILLWATER
		STATE:			OK
		ZIP:			74075

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Inflection Point Acquisition Corp. II
		DATE OF NAME CHANGE:	20230322
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-03-13</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001970622</issuerCik>
        <issuerName>USA Rare Earth, Inc.</issuerName>
        <issuerTradingSymbol>USAR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002061105</rptOwnerCik>
            <rptOwnerName>Critical Minerals Trust</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>100 W AIRPORT ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>STILLWATER</rptOwnerCity>
            <rptOwnerState>OK</rptOwnerState>
            <rptOwnerZipCode>74075</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.0001 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13671026</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Earnout right to Common Stock</value>
                <footnoteId id="F2"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2031-03-13</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.0001 per share</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1879238</value>
                    <footnoteId id="F2"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The reported securities are held directly by the Critical Minerals Trust, of which Mordechai Gutnick is the trustee. Mr. Gutnick is a director of the Issuer and files Section 16 reports separately. Mr. Gutnick beneficial ownership of all securities held by the Critical Minerals Trust except to the extent of his pecuniary interest therein.</footnote>
        <footnote id="F2">Pursuant to the BCA, the reporting person is also entitled to receive up to 1,879,238 shares of common stock of the Issuer subject to the following conditions: (i) 50% of such shares vest if, during the period (the &quot;Earnout Period&quot;) beginning on the first anniversary of the Business Combination (3/13/2026) and ending on the sixth anniversary of the Business Combination (3/13/2031), the closing sale price of one share as reported on NASDAQ is greater than or equal to $15.00 for a period of at least 20 out of 30 consecutive trading days and (ii) the remaining 50% of such shares vest if, during the Earnout Period, the closing sale price of one share as reported on NASDAQ is greater than or equal to $20.00 for a period of at least 20 out of 30 consecutive trading days. In the event of a Change of Control (as defined in the BCA), such shares vest if the consideration is equal to or above such aforementioned price targets, or will be forfeited if such targets are not met.</footnote>
    </footnotes>

    <remarks>Exhibit List

Exhibit 24 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ David Kronenfeld, attorney-in-fact for Critical Minerals Trust</signatureName>
        <signatureDate>2025-03-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>ea023513901ex24_usarare.htm
<DESCRIPTION>POWER OF ATTORNEY
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in">Exhibit 24</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">POWER OF ATTORNEY<BR>
FOR EXECUTING FORM 3, FORM 4,<BR STYLE="clear: both">
FORM 5 AND FORM 144</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby constitutes
and appoints each of David Kronenfeld and Ana Fernandez Cortez, with full power of substitution, as the undersigned&rsquo;s true and lawful
attorney-in-fact to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">Execute for and on behalf of the undersigned any Form 3, Form 4, and Form 5 in accordance with Section
16(a) of the Securities Exchange Act of 1934, as amended (the &ldquo;<U>Exchange Act</U>&rdquo;), and any Form 144 in accordance with
Rule 144 under the Securities Act of 1933 (the &ldquo;<U>Securities Act</U>&rdquo;), in each case including any amendments thereto, but
only to the extent such form relates to the undersigned&rsquo;s beneficial ownership of securities of USA Rare Earth, Inc. or any of its
subsidiaries (collectively, the &ldquo;<U>Company</U>&rdquo;);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">Do and perform any and all acts for and on behalf of the undersigned that may be necessary or desirable
to complete and execute any Form ID, Form 3, Form 4, Form 5, or Form 144 (including amendments thereto) and timely file the form with
the Securities and Exchange Commission and any stock exchange or quotation system, self-regulatory association or any other authority,
and provide a copy as required by law or advisable to such persons as the attorney-in-fact deems appropriate; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">Take any other action in connection with the foregoing that, in the opinion of the attorney-in-fact, may
be of benefit to, in the best interest of or legally required of the undersigned, it being understood that the documents executed by the
attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in the form and shall contain the terms and
conditions as the attorney-in-fact may approve in the attorney-in-fact&rsquo;s discretion.</TD></TR></TABLE>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby grants
to the attorney-in-fact full power and authority to do and perform all and every act requisite, necessary or proper to be done in the
exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if
personally present, with full power of substitution or revocation, hereby ratifying and confirming all that the attorney-in-fact shall
lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers granted herein. The undersigned acknowledges
that the attorney-in-fact, in serving in such capacity at the request of the undersigned, is not assuming (nor is the Company assuming)
any of the undersigned&rsquo;s responsibilities to comply with Section 16 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned agrees that
the attorney-in-fact may rely entirely on information furnished orally or in writing by or at the direction of the undersigned to the
attorney-in-fact. The undersigned also agrees to indemnify and hold harmless the Company and the attorney-in-fact against any losses,
claims, damages or liabilities (or actions in these respects) that arise out of or are based upon any untrue statements or omissions of
necessary facts in the information provided by or at the direction of the undersigned, or upon the lack of timeliness in the delivery
of information by or at the direction of the undersigned, to the attorney-in fact for purposes of executing, acknowledging, delivering
or filing a Form ID, Form 3, Form 4, Form 5 or Form 144 (including amendments thereto), and agrees to reimburse the Company and the attorney-in-fact
on demand for any legal or other expenses reasonably incurred in connection with investigating or defending against any such loss, claim,
damage, liability or action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Power of Attorney shall
remain in full force and effect until the undersigned is no longer required to file any Form 3, Form 4, Form 5 or Form 144 with respect
to the undersigned&rsquo;s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned
in a signed writing delivered to the attorney-in-fact. This Power of Attorney does not revoke any other power of attorney that the undersigned
has previously granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the undersigned
has caused this Power of Attorney to be executed as of the date written below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><B>THE CRITICAL MINERALS TRUST</B></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%">/s/ Mordechai Gutnick</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Mordechai Gutnick</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Trustee</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid">March 17, 2025</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Date</TD>
    </TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
