BAIC Industrial Investment Completes Strategic Investment in Aite Magnetic Material to Boost R&D and Market Growth

[SMM Rare Earth Bulletin] American Rare Earths announced that the first rare earth magnet production line at its Stillwater, Oklahoma facility had been put into operation, with commercial shipments to begin in April, and it was expected to reach full capacity of 600 mt per year by the end of December. The company said the plant's capacity would increase to 1,200 mt/year by 2027. In January this year, American Rare Earths signed a non-binding agreement with the US Department of Commerce for $1.6 billion in funding support to build a mine to supply raw material for magnet production.

BAIC Industrial Investment Management Co., Ltd. announced the completion of a strategic investment in Jiangxi Aite Magnetic Material Co., Ltd., aiming to support its R&D innovation and market expansion in the field of soft magnetic powder cores. Founded in 2014, Aite Magnetic Material focuses on soft magnetic powder core products such as Sendust, iron-silicon, iron-based amorphous, and nanocrystalline materials, and holds an important position in the magnetic materials sector.

Lodestar Minerals disclosed that mineralogical studies at its Virgin Mountain project in Arizona, US, confirmed the presence of high-grade heavy rare earths with xenotime as the principal mineral, including high proportions of dysprosium, terbium, and lutetium—three high-value elements that are in critically short domestic supply in the US and are vital to national defense systems. China currently accounts for most of the global production of the above heavy rare earths and has imposed export restrictions. Lodestar said the findings highlight the project's strategic value and will help the company secure funding and establish partnerships.