USA Rare Earth Signs MOU with StudBuddy for Domestic Rare Earth Magnet Supply Chain

USA Rare Earth has signed a memorandum of understanding with StudBuddy, a maker of magnetic stud finder tools, to secure a domestic rare earth magnet supply chain. This partnership aligns with USA Rare Earth's mission to establish a rare earth magnet production supply chain in the US. Discussions will progress toward a multi-year supply agreement, following the commissioning of its Innovations Lab in Stillwater, Oklahoma.

USA Rare Earth (USAR), a company focused on building a domestic rare earth magnet production supply chain, has signed a memorandum of understanding (MOU) with The StudBuddy®, a manufacturer of magnetic stud finder tools. This strategic partnership aims to establish a domestic rare earth magnet supply chain, aligning with USAR's mission to bring high-powered magnet production back to the United States.

The MOU, signed on April 22, 2025, follows the recent commissioning of USAR's Innovations Lab in Stillwater, Oklahoma, on March 31. Under the agreement, USAR will deliver approximately 20 metric tons of finished sintered neodymium magnets to The StudBuddy annually. This collaboration represents a significant milestone in USAR's journey to bring the rare earth magnet industry to the U.S. [1]

Joshua Ballard, CEO of USA Rare Earth, expressed enthusiasm about the partnership. "USA Rare Earth intends to bring high-powered magnet production back to the U.S., and we are thrilled that our first customer announcement is with a quintessential American success story like The StudBuddy," said Ballard. The StudBuddy, invented by Collin Bernsen, a framer and carpenter, uses neodymium magnets for locating nails and screws behind drywall, making it a key player in domestic manufacturing. [1]

Weston Bernsen, Vice-President at The StudBuddy, echoed the sentiment. "We have been committed to supporting domestic manufacturing and suppliers from the very beginning," said Bernsen. "Continuing our pursuit of a fully domestic supply chain, we are proud to announce our partnership with USA Rare Earth, which will soon supply the high-powered permanent rare earth magnets we use in every one of our products." [1]

The partnership is expected to progress toward a detailed multi-year supply agreement, supporting The StudBuddy's goal of maintaining a fully domestic supply chain for their magnetic stud finder tools. This collaboration not only underscores both companies' commitment to domestic manufacturing but also highlights the importance of securing a domestic rare earth supply chain for critical U.S. industries.

USA Rare Earth's vertical integration, including mining rights to the Round Top Mountain rare earth and critical minerals deposit in West Texas, positions it to provide a comprehensive solution for domestic magnet production. The company's permanent neo magnets and rare earth minerals are essential for various industries, including defense, automotive, aviation, industrial, medical, and consumer electronics.

For more information, please visit USARE.com and connect with the company on LinkedIn and X.

References:
[1] https://www.stocktitan.net/news/USAR/usa-rare-earth-and-the-stud-buddy-sign-memorandum-of-understanding-0s2aujdft1e5.html
[2] https://www.globenewswire.com/news-release/2025/04/21/3064538/0/en/USA-Rare-Earth-Announces-Date-for-First-Quarter-2025-Results-and-Conference-Call.html
[3] https://www.globenewswire.com/news-release/2025/04/22/3065347/0/en/USA-Rare-Earth-and-The-StudBuddy-Sign-Memorandum-of-Understanding-for-Delivery-of-U-S-Made-Neo-Magnets.html