MP Materials Corp. is planning to build an initial rare earth (RE) metal, alloy and magnet manufacturing facility in Fort Worth, Texas. The facility will also create more than 100 skilled jobs.
MP Materials will develop a 200,000 square foot greenfield metal, alloy and neodymium-iron-boron (NdFeB) magnet manufacturing facility. The plant will also serve as the business and engineering headquarters for its growing magnetics division, MP Magnetics. MP’s initial magnetics facility will have the capacity to produce approximately 1,000 tons of finished NdFeB magnets per annum. In addition, he production facility will have the potential to power approximately 500,000 EV motors annually. The NdFeB alloy and magnets produced will also support other key markets, including clean energy, electronic and defense technologies. The facility will also supply NdFeB alloy flake to other magnet producers to help develop a U.S. magnet supply chain.
Agreement with General Motors
The company also announced that it has entered a long-term agreement with General Motors. The idea is to supply U.S.-sourced and manufactured rare earth materials, alloy and finished magnets to GM for their electric vehicle production. MP Materials owns and operates the Mountain Pass Rare Earth Mine and Processing Facility in San Bernardino County, CA. The company’s visions is to enhance their alloy and magnet capacity in the future. This is to consume a greater percentage of its primary production and supply growing U.S. demand.
More than 100 Jobs
MP Materials said the facility will create more than 100 skilled jobs. It will be located in the AllianceTexas development in far north Fort Worth. “MP Materials has built an exceptional magnetics team and important commercial relationships. This will accelerate our mission to restore the full rare earth supply chain to the United States. This is a momentous occasion for the reshoring of the American supply chain, and we are grateful for GM’s confidence, commitment and leadership.” MP Materials Chairman & CEO, James Litinsky stated in his statement.
Although development of permanent magnets originated in the United States, the U.S. has virtually no capacity to produce these NdFeB magnets today. MP Materials said these magnets are fundamental building blocks in modern technologies and will increase in importance as the global economy electrifies and decarbonizes.
Browse for job opportunities in Texas
Keep up with the latest employment news across US at News