Nevada-headquartered rare earths major MP Materials (NYSE:MP) has started commercial production at its fully integrated rare earth magnet manufacturing facility in Texas.
The company has started producing neodymium-praseodymium (NdPr) metal and trial production of automotive-grade, sintered neodymium-iron-boron (NdFeB) magnets.
MP Materials says this brings the US closer to reestablishing a fully integrated, domestic supply chain for these critical components for the first time in decades.
The US$3.4 billion ($5.4 billion) company owns the Mountain Pass Mine in California, which is the largest single known deposit of rare earths and the only operating rare earths mine and processing facility in the US.
MP Materials produces about 15% of the rare earth content consumed annually.
In 2023, the company re-commissioned the integrated processing facilities, known as Independence, at Mountain Pass and began producing separated and refined rare earth products, focusing on high-purity neodymium-praseodymium oxide.
This is the key ingredient in the world’s most efficient and highest strength permanent magnets.
The most common ‘super magnet’ is the neodymium-iron-boron (NdFeB) magnet, which is essential in electric vehicles, drones, robotics, electronics, and aerospace and defence systems.
For decades the US has relied almost entirely on foreign sources for these critical inputs, but that is soon to change with MP Materials expanding its operations to build America’s first fully integrated rare earth metal, alloy, and magnet manufacturing facility.
MP Materials founder and CEO James Litinsky says the milestone marks a major step forward in restoring a fully integrated rare earth magnet supply chain in the US.
“With record-setting upstream and midstream production at Mountain Pass and both metal and magnet production underway at Independence, we have reached a significant turning point for MP and US competitiveness in a vital sector,” he says.
Independence is expected to produce 1,000 tonnes of finished NdFeB magnets each year, with a gradual production ramp up starting in late 2025.
The facility will supply magnets to car giant General Motors and other manufacturers, sourcing its raw materials from Mountain Pass.
MP Materials says 2024 was a record-breaking year for production at Mountain Pass – and an all-time high for US primary production – with output of more than 45,000 tonnes of rare earth oxides (REO) contained in concentrate.
Mountain Pass also set a midstream production record last year, delivering roughly 1,300 tonnes of NdPr oxide, in addition to cerium, lanthanum, and other separated and refined products.
Write to Angela East at Mining.com.au
Images: MP Materials
