MP to Produce Magnets in Northlake, Texas

Published: Feb 27, 2026 17:57

Save

US rare earth producer MP Materials announced the selection of Northlake, Texas for the development of its "10X" magnet manufacturing campus, with a total investment exceeding $1.25 billion. The facility is expected to be commissioned in 2028. The plant will increase the company's total NdFeB magnet capacity to approximately 10kt per year and secure a local incentive package totaling $200 million over 10 years.
The new campus, adjacent to its independent Fort Worth facility (existing capacity of 1,000 mt/year, currently being expanded to 2,000 mt/year), further strengthens its integrated magnet production capability from mining to recycling, and involves collaboration with Apple on magnet recycling.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

3 hours ago

Shenghe Resources Expects 2025 Net Profit to Surge 281%-339% YoY

Shenghe Resources Holding Co., Ltd. (600392.SH) disclosed its 2025 annual performance forecast, expecting net profit attributable to owners of the parent company to be 790 million–910 million yuan for the full year of 2025, an increase of 582.8035 million–702.8035 million yuan compared with the same period last year, up 281.28%–339.20% YoY.

3 hours ago

Hainan Chensheng Rare Earth Metals Co. Launched, Fully Owned by Shenghe Resources

Hainan Chensheng Rare Earth Metals Co., Ltd. was established, with Li Yamin as its legal representative and a registered capital of 20 million yuan. Its business scope includes the smelting of rare and rare earth metals; manufacturing of non-ferrous metal alloys; manufacturing of metal materials; processing of non-ferrous metal rolling; R&D of new material technologies, among others. According to Qichacha's equity structure analysis, the company is indirectly wholly owned by Shenghe Resources (600392).

3 hours ago

Zhong Ke San Huan Forecasts 566%-899% Net Profit Growth in 2025

Beijing Zhong Ke San Huan High Technology Co., Ltd. disclosed its performance forecast. The company expects to achieve a net profit attributable to shareholders of the publicly listed firm of 80 million to 120 million yuan in 2025, an increase of 566.23% to 899.35% compared with the same period last year.

3 hours ago