What Texas Mineral Resources does

Texas Mineral Resources Corp. is a U.S. mining exploration and development company focused on heavy rare earth elements and critical minerals. Its flagship asset is the Round Top project in Hudspeth County, Texas, described as one of North America's richest known heavy rare earth deposits and containing 16 of 17 rare earth elements plus co-product minerals including lithium, beryllium, uranium, gallium, and industrial sulfates. The company holds 19-year renewable leases from the Texas General Land Office covering 950 acres at Round Top, with adjacent prospecting permits on 9,345 acres, and operates a 1-10 employee organization headquartered in Sierra Blanca, Texas.

TMRC's core technology is a Continuous Ion Exchange/Continuous Ion Chromatography (CIX/CIC) separation process, co-developed with K-Technologies Inc. and commercialized through the REETech joint venture, paired with conventional heap leach processing to extract and purify rare earths from Round Top rhyolite ore. Bench-scale work has produced rare earth oxides at 99.999-99.9999% purity under a U.S. Defense Logistics Agency research contract. Beyond Round Top, the company holds exploration-stage silver and gold/base metal assets in New Mexico, including the Black Hawk Mining District joint venture with Santa Fe Gold and the historic Carlisle mine acquired in December 2024, and operates the American Mineral Reclamation LLC subsidiary focused on mineral recovery from coal byproducts, industrial wastewater, and scrap metal.

TMRC remains pre-revenue, with commercial production originally targeted for 2028 under USA Rare Earth's Accelerated Mining Plan (40,000 metric tons per day of feedstock by 2030). Its go-to-market combines U.S. federal R&D contracting (DLA, DOE), public-equity financing on the OTCQB (ticker TMRC), and forward offtake agreements including a uranium offtake with AREVA subsidiary UG USA. In March 2026, USA Rare Earth agreed to acquire all outstanding TMRC shares for approximately $73 million in an all-stock transaction, consolidating 100% ownership of the Round Top project under USA Rare Earth's vertically integrated mine-to-magnet strategy, with closing expected in Q3 2026.

Name

Texas Mineral Resources

Legal name

Texas Mineral Resources Corp.

Website

https://tmrcorp.com

Company type

Public

Founded year

2013

Operating status

Acquired

Headcount range

1–10 employees

Short description

Texas Mineral Resources Corp. is a U.S. exploration-stage mining company developing the Round Top heavy rare earth and critical minerals project in Hudspeth County, Texas, using proprietary CIX/CIC processing. The company was acquired by USA Rare Earth in March 2026 for approximately $73 million.

Ownership category

akta.pro rank

Product category

Heavy Rare Earth Mining

NAICS

Other Metal Ore Mining (21229)

SIC

Metal Mining (1000)

akta.pro primary industry

Rare Earths Mining & Concentrates (REE Ores) (IMAKAFAG)

akta.pro secondary industries

Rare Earths Separation & Refining (Oxides/Metals) (IMAKAFAH), Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

Keywords

• Heavy rare earth elements
• Critical minerals mining
• Rare earth processing
• Uranium extraction
• Industrial minerals production

Headquarters

HQ city

Sierra Blanca

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations

Revenue model

1. Mineral Production (Future): TMRC is a pre-revenue exploration-stage company. Future revenue will come from the sale of heavy rare earth elements (dysprosium, yttrium, terbium), technology metals (lithium, beryllium, gallium), and industrial minerals (aluminum sulfate, magnesium sulfate, potassium sulfate) extracted from the Round Top deposit upon commencement of commercial production, currently targeted for 2028.
2. Government Research Contracts: TMRC generated revenue through research contracts with U.S. government agencies including the Defense Logistics Agency (DLA) for producing high-purity rare earth samples and the Department of Energy (DOE) for rare earth extraction from coal waste materials.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Texas Mineral Resources is developing the Round Top heavy rare earth and critical minerals mining project in Hudspeth County, Texas, with plans to extract and process heavy rare earth elements (dysprosium, terbium, yttrium), technology metals (lithium, beryllium, gallium), uranium, and industrial minerals using proprietary heap leach and CIX/CIC ion exchange processing technology. The company also operates exploration projects for silver in the Black Hawk Mining District (New Mexico) and gold/base metals at the Carlisle Mine (New Mexico), and through its American Mineral Reclamation LLC subsidiary pursues mineral recovery from coal byproducts and industrial waste streams.

Product overview

Texas Mineral Resources Corp. is a mining exploration and development company focused on developing its flagship Round Top heavy rare earth and critical minerals project in Hudspeth County, Texas, in partnership with USA Rare Earth LLC. The company also operates American Mineral Reclamation LLC, a subsidiary pursuing strategic mineral recovery from waste materials. The product portfolio centers on extracting and processing heavy rare earth elements, critical minerals (including lithium, beryllium, uranium, gallium), and industrial minerals through heap leach processing technology. The company also explores for silver and gold through projects in New Mexico, including the Black Hawk Mining District and the historic Carlisle Mine.

Differentiator

Problem solved

Functional benefit

Products and services

• Round Top Heavy Rare Earth Project Flagship heavy rare earth and critical minerals mining project located in Hudspeth County, Texas, approximately 85 miles southeast of El Paso. Operated under a 19-year renewable lease with the Texas General Land Office on 950 acres encompassing Round Top Mountain, with additional prospecting permits on 9,345 adjacent acres. Planned to produce heavy rare earth elements (dysprosium, terbium, yttrium), technology metals (lithium, beryllium, gallium), uranium, and industrial minerals using proprietary heap leach and CIX/CIC processing technology.
• Rare Earth Elements and Critical Minerals Planned production of heavy rare earth elements (dysprosium, terbium, yttrium), critical rare earth elements, and technology metals including lithium, beryllium, uranium, and gallium extracted from the Round Top deposit. Based on 2013 PEA estimates, projected production includes approximately 2,569 tonnes per year of heavy rare earth oxides plus yttrium, with 198 tonnes per year of dysprosium oxide and 1,645 tonnes per year of yttrium oxide. CIX/CIC technology demonstrated production at 99.999-99.9999% purity for the U.S. Defense Logistics Agency.
• Industrial Minerals (Sulfate Co-products)

Quantifiable outcome

• Heavy rare earth oxide production projected at approximately 2,569 tonnes per year including 198 tonnes per year dysprosium oxide and 1,645 tonnes per year yttrium oxide (2013 PEA estimate, subject to current feasibility studies)
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• USA Rare Earth LLCcoreStrategic or Co-development Partner · 5 March 2026USA Rare Earth LLC was the operating partner and majority owner (approximately 80.4%) of the Round Top Mountain Development LLC joint venture. TMRC held an 18.6% interest. In March 2026, USA Rare Earth acquired all outstanding TMRC shares for approximately $73 million in an all-stock transaction, consolidating 100% ownership of the Round Top project. USA Rare Earth is building a vertically integrated mine-to-magnet rare earth supply chain spanning extraction, processing, metal-making, and magnet manufacturing.
• Steeple Rock Holding Company LLCminorStrategic or Co-development Partner · 12 December 2024TMRC signed a non-binding LOI with Steeple Rock Holding Company to explore a mining joint venture involving four mines (Billali, Jim Crow, Imperial, Carlisle) and a flotation mill in the Steeple Rock District of New Mexico and Arizona. TMRC could acquire up to 50.1% interest by contributing the Carlisle mine and raising capital.
• Santa Fe Gold CorporationminorStrategic or Co-development Partner · 1 January 2021TMRC entered into a Mineral Exploration and Option Agreement with Santa Fe Gold to evaluate silver mining opportunities in the Black Hawk Mining District, Grant County, New Mexico. The project area was expanded from 80 acres to approximately 1,600 acres. TMRC plans to serve as project operator and initially own 50.5%. Exploration uses NANOTEM geophysical surveying with drilling targets identified.
• Jeddo Coal CompanyminorStrategic or Co-development Partner · 4 October 2017TMRC executed an MOU with Jeddo Coal Company in Pennsylvania to explore extracting rare earth elements including scandium from coal overburden at a historic mine site. DOE Secretary Perry and Congressman Barletta visited this site in October 2017. Average samples showed 407 ppm total rare earth and 102 ppm scandium content.
• Inventure Renewables Inc.minorStrategic or Co-development Partner · 22 June 2017Inventure Renewables (Tuscaloosa, AL) partnered with TMRC on the DOE rare earth from coal grant and signed a Cooperation Agreement for developing reclamation projects. Inventure specializes in low-cost, high-yield extraction technologies for biochemical and material recovery from biomass and waste materials.
• American Mineral Reclamation LLCminorStrategic or Co-development Partner · 22 June 2017TMRC established American Mineral Reclamation LLC as a wholly-owned subsidiary to pursue opportunities in metals and mineral recovery from coal byproducts, industrial wastewater, acid mine drainage, and scrap metal processing. Represents a new strategic business line leveraging TMRC's ion exchange technology.
• Penn State UniversityminorStrategic or Co-development Partner · 12 June 2017Penn State University partnered with TMRC and Inventure Renewables on the DOE-funded rare earth from coal project. Penn State researchers conducted studies on ammonium sulfate leaching techniques for recovering rare earths from coal deposits and are assisting with logging and analysis of drill core from the Black Hawk District.
• K-Technologies Inc.coreTechnology or Integration · 9 June 2017K-Technologies Inc. (Lakeland, FL) developed the Continuous Ion Exchange/Continuous Ion Chromatography (CIX/CIC) technology for separating and purifying rare earth elements. TMRC formed a joint venture with K-Tech to commercialize this technology worldwide. Successfully demonstrated at bench scale for DLA contract and applied to Round Top ore processing.
• K-Technologies Inc. (REETech Joint Venture)coreTechnology or Integration · 17 July 2015TMRC and K-Technologies formed the REETech LLC joint venture to introduce CIX/CIC technology to the rare earth industry worldwide. In September 2015, REETech was awarded a DLA contract to produce highly purified rare earth samples. The joint venture represents a pathway to commercialize the separation technology.
• UG USA (AREVA subsidiary)minorChannel Partner/ Reseller/ Distributor · 6 April 2015TMRC signed a uranium offtake agreement with UG USA, a wholly owned subsidiary of AREVA (global nuclear energy leader). TMRC would supply up to 300,000 pounds of natural uranium concentrates (U308) per year over five years commencing upon production at Round Top. UG USA has right of first refusal on quantities beyond the initial amount.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• MP Materials: Largest rare earth producer in the Western Hemisphere, operating the Mountain Pass mine in California. Comparable as a U.S.-focused rare earth miner at a more advanced stage, though it focuses on light rare earths (NdPr) rather than the heavy rare earths at Round Top.
• Lynas Rare Earths: Australia-based rare earth miner and the largest non-Chinese rare earth processor. Comparable as a vertically integrated rare earth producer with both mining and separation capabilities, though its primary output is light rare earths.
• Albemarle Corporation: Global specialty chemicals and lithium producer with a U.S. asset base. Comparable as a U.S.-headquartered critical minerals incumbent, though its primary focus is lithium, bromine, and catalysts rather than rare earths.

Direct peers

• USA Rare Earth: Operating partner and now parent of TMRC; majority owner of the Round Top JV and an integrated mine-to-magnet rare earth company. Provides the most direct comparison because USAR controls the same deposit and is the developer of the same processing pathway.
• Energy Fuels: U.S. uranium and rare earth processor operating the White Mesa Mill in Utah. Comparable because it processes rare earths from monazite sand and is pursuing a U.S. critical minerals strategy, including rare earth separation and downstream processing.

Emerging players

• Arafura Resources: Australian-listed developer of the Nolans NdPr project in central Australia. Comparable as a heavy/light rare earth developer with a single-asset strategy, though its geographic and offtake markets differ from TMRC's U.S.-focused approach.
• Ucore Rare Metals: Canadian junior developing the Bokan-Dotson Ridge heavy rare earth project in Alaska and a RapidSX™ separation technology. Comparable as a North American heavy rare earth developer with proprietary processing technology targeting U.S. defense and tech supply chains.
• Idaho Strategic Resources: U.S. mining company operating the Idaho National Laboratory rare earth and critical minerals project and the Diana Exploration project. Comparable as a small U.S. rare earth developer with government-aligned critical minerals exposure.
• Vital Metals / Cheetah Resources: Canadian rare earth developer with the Nechalacho project in the Northwest Territories. Comparable as a small-cap developer focused on heavy rare earths and rare earth separation, though at a much smaller scale than Round Top.

Regional players

• Texas Rare Earth & Industrial Metals (private): Privately held Texas-focused rare earth and critical minerals company. Comparable as a regional peer targeting Texas-based rare earth resource development, though at a smaller exploration stage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xtwitter.com/texasmineralres
• LinkedInlinkedin.com/company/texas-mineral-resources-corp

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Texas Mineral Resources