Pini Althaus

Pini Althaus is a business executive with over 20 years of experience in the mining and critical minerals sector. He is the founder of USA Rare Earth, where he played a key role in developing the Round Top Project.
Early life and education
Pini Althaus was born in Melbourne, Australia, and comes from a Chassidic Lubavitcher background with strong ties to Jewish tradition. He completed his studies at the Rabbinical College of America, earning a rabbinical degree, before transitioning into the mining and critical minerals sector, where he has held executive roles for over 20 years.
Career
Pini Althaus is a business executive with extensive experience in the mining and critical minerals industry. He is the founder and former CEO of USA Rare Earth, a company he co-founded in 2019.
Under his leadership, USA Rare Earth advanced the Round Top Mountain project in Texas, which is recognized for its significant deposits of heavy rare earth elements, lithium, and gallium.
The Round Top project has been identified as an important initiative in establishing a domestic supply chain for critical minerals in the United States.
During his tenure as CEO, USA Rare Earth launched the first rare earth and critical minerals processing facility in North America, located in Wheat Ridge, Colorado. This facility is capable of separating all rare earths into individual oxides and processing other materials found in rare earth deposits, including contained radioactive materials and lithium.
Additionally, under Althaus's leadership, technology development was implemented to optimize processing at the Round Top deposit, enabling USA Rare Earth to process third-party materials, thereby reducing the necessity of sending these materials to China for final separation.
Althaus also oversaw the acquisition of the only manufacturing system in the Americas, formerly owned and operated by Hitachi Metals America Ltd. in North Carolina.
This NdFeB magnet plant, which can produce 2,500 tonnes per year, is currently being reestablished in a new $100 million facility in Stillwater, Oklahoma, with plans for potential scaling.
Beyond his work with USA Rare Earth, Althaus has been involved in several other business ventures. He co-founded Dominion Minerals Corporation, which made significant discoveries in Panama, and Cove Capital, a company focused on the mining and critical minerals industry.
Notable projects
One of Althaus's major projects is his work in Kazakhstan, where he is the managing partner of Cove Capital. Through Kaz Critical Minerals LLP, a subsidiary fully owned by Cove Capital's portfolio company Kaz Resources LLC, Althaus is leading efforts to explore and develop rare earth elements and critical minerals.
Kaz Resources LLC has been granted 11 licenses for projects originally developed during the Soviet era. These projects contain lithium, tantalum, beryllium, niobium, cesium, rubidium, and tin, along with rare earth elements.
A key project under Althaus's leadership is the Akbulak rare earth project in the Kostanay region, a joint venture with the Kazakhstan state-owned mining company Tau-Ken Samruk. Preliminary studies have indicated the potential for a significant deposit of rare earth metals, estimated at 380,000 tons.
Cove Capital LLC has also signed an agreement with Kazakhstan's sovereign wealth fund, Samruk Kazyna, to collaborate on developing Kazakhstan's critical minerals supply chain. This collaboration is part of a broader strategy to establish a vertically integrated supply chain for critical minerals within Kazakhstan, including the potential construction of a centralized processing facility, potentially costing around $500 million, to reduce reliance on exporting these minerals to China.
Advocacy and public engagement
Althaus has publicly supported ethical and environmentally responsible mining practices, expressing concerns about the environmental impact of rare earth mining in China. He advocates for the United States and other industrial democracies to lead by example in producing these materials in a clean and responsible manner.
As part of his broader efforts to promote sustainable and secure supply chains for critical materials, Althaus co-founded REEMAG LLC and currently serves as CEO. REEMAG focuses on recycling and producing rare earth magnets using patented technology that significantly reduces environmental impact and energy consumption compared to traditional methods. This initiative is critical given the projected increase in demand for rare earth magnets, driven by the global shift toward cleaner energy and high-tech industries.
In addition to leading REEMAG, Althaus has positioned the company as a key player in the global rare earth industry by joining the Rare Earth Industry Association (REIA), where it contributes to discussions on diversifying supply chains and enhancing sustainability in the production of rare earth elements.
Involvement in Challenger Gold Limited
Pini Althaus is involved with Challenger Gold Limited as a Non-Executive Director.
Challenger Gold is an exploration company focused on gold and copper projects, particularly in Argentina and Ecuador. One of their key assets is the Hualilan Gold Project in San Juan, Argentina, which has shown significant promise with a large resource base that continues to expand.
Althaus played a role in identifying the Hualilan Gold Project, which has an estimated resource of 2.8 million ounces of gold. According to the 2024 Feasibility Study, the Hualilan resource is expected to grow, positioning it as one of the lowest cash-cost producing gold assets globally once it goes into production.
Public commentary and media engagement
Pini Althaus has been actively involved in discussions regarding the significance of critical minerals, with a particular focus on securing supply chains and reducing dependence on foreign sources.
His insights have been featured in prominent media outlets including Forbes, The New York Times, FOX, The Wall Street Journal, Financial Times, CNBC, and Global Times.
Althaus's public commentary often emphasizes the importance of establishing a domestic supply chain for critical minerals in the United States, a stance that resonates with bipartisan concerns over both national security and environmental sustainability.
In addition to his media engagements, Althaus has participated in key global forums, such as the Future Minerals Forum in Saudi Arabia, where he has contributed to discussions on the strategic role of critical minerals in global economic policies. His participation in these discussions highlights his ongoing commitment to addressing the challenges and opportunities in the critical minerals sector, both domestically and internationally.
Althaus has also spoken about Cove Capital's strategic investments in critical minerals, including their support for initiatives like , underscoring the global importance of a robust and diversified critical minerals supply chain.

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