USA Rare Earth (Nasdaq: USAR), a company spearheading the development of a fully domestic supply chain for rare earth magnets and critical minerals, has appointed William Robert (Rob) Steele Jr. as its new Chief Financial Officer, effective March 24, 2025.

With more than three decades of experience in finance and investment banking, Steele steps into the role at a pivotal time for the company. He brings a robust track record of capital raising and strategic leadership, having led over $28 billion in transactions across both private and public markets. His expertise aligns with USAR’s aggressive scale-up ambitions in mining and magnet manufacturing.

CEO Joshua Ballard expressed confidence in the appointment, stating, “I sought a hands-on partner who could help us scale USA Rare Earth swiftly... Rob fits that bill exactly. I couldn’t be happier that he’s joining our team.”

Steele echoed that sentiment, noting the strategic importance of USAR’s mission. “I strongly believe in USAR’s mission of returning the rare earth mineral and magnet supply chain to America,” he said. “This effort is mission-critical to onshoring and sustaining growth in key industries including EVs, renewable energy, defense, and physical AI/robotics.”

Prior to joining USA Rare Earth, Steele served as Global CFO at Mujin Corp., a leader in industrial robotics software, and held a senior leadership role at Bank of America Securities. He began his career at Ernst & Young and holds degrees from UCLA Anderson School of Management and UC Santa Barbara.

His appointment comes as USA Rare Earth seeks to capitalize on its Round Top rare earth deposit and the continued buildout of its magnet manufacturing facility, reinforcing the company’s strategic role in the reshoring of essential supply chains.