MP Materials Eyes Northlake, Texas for New '10X Plant' to Boost US Rare Earth Magnet Capacity

Published: Jan 9, 2026 15:41

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[SMM Flash: MP Considers Building Another Magnetic Material Plant in Northlake, Texas] US integrated rare earth producer MP Materials is considering Northlake near Fort Worth, Texas, as the site for its second magnet plant. MP Materials is actively advancing plans to build a next-generation manufacturing facility, with the project, dubbed the "10X Plant," aimed at boosting US rare earth magnet capacity. MP stated that this initiative is crucial for accelerating the independence of the US rare earth magnet supply chain, as rare earth magnets are a key driver for national defense and commercial technologies. The company's standalone plant in Fort Worth has an annual capacity of 1,000 mt of NdFeB magnets, which can be further expanded to 3,000 mt/year. Upon completion of the 10X Plant, expected to commence production in 2028, MP's total rare earth magnet manufacturing capacity will increase to 10,000 mt/year. Additionally, the US Department of Defense has signed a 10-year offtake agreement with MP Materials for neodymium-praseodymium products, with a minimum committed price of $110/kg.

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