InfraVia Critical Metals proposed minority investment in Carester

InfraVia announced an investment term sheet with Carester on 9 April 2026 for a contemplated minority investment by its Critical Metals Fund alongside USA Rare Earth. Each investor would hold approximately 12.5% of Carester after the proposed transaction. Closing remained conditional on confirmatory due diligence, agreed conditions and execution of definitive documentation. Founded in 2019, Carester specializes in rare earth recycling and separation. Its Caremag facility in Lacq, southern France, was scheduled for commissioning in late 2026, with annual capacity to recycle 2,000 tonnes of magnets and refine 5,000 tonnes of mining concentrate. French and Japanese public entities support Caremag. USA Rare Earth’s subsidiary Less Common Metals Europe develops a nearby metal and alloy facility. The proposed stake is not presented as completed ownership.