MP Materials to Start Heavy Rare Earth Output by Mid-2026, Back 10X Magnet Facility

US rare earth producer MP Materials is expected to commence production of heavy rare earth elements, including dysprosium and terbium, by mid-2026. CEO James Litinsky stated during the Q3 earnings call on November 7 that the company's new rare earth production line will process approximately 3,000 mt of raw material annually and produce over 200 mt/year of dysprosium and terbium. This capacity will fully support MP's plan to produce 10,000 mt of high-performance NdFeB magnets per year.

MP plans to build its "10X" magnet manufacturing facility, which is scheduled to begin operations in 2028, with production fully backed by existing offtake agreements. Given that the typical ratio of dysprosium to terbium in MP's ore body is approximately 3:1, the allocation of the 200 mt/year output will align with this ratio, according to MP.