USA Rare Earth Inc. is set to start commercial shipments of magnets from April, marking a significant step towards reducing America's reliance on China for vital industrial components.
The company's first rare-earth magnet production line in Stillwater, Oklahoma, has been commissioned and is expected to reach its full capacity of 600 tons per year by the end of December.
USA Rare Earth has secured $1.6 billion in funding from the Department of Commerce to build a mine that will feed its magnet production, and is also working to develop its Round Top mine in Texas, which is expected to start up in 2028.
Rare-earth magnets are essential in high-tech applications, including cars, wind turbines, and missiles, and have gained geopolitical significance in recent years due to China's control over the supply chain.
