MP Materials has reached a pivotal milestone in restoring the U.S. rare earth magnet supply chain. The company's Independence facility in Fort Worth, Texas, has commenced commercial production of neodymium-praseodymium (NdPr) metal and trial production of automotive-grade, sintered neodymium-iron-boron (NdFeB) magnets. These achievements bring the U.S. closer to reestablishing a fully integrated, domestic supply chain for these critical components for the first time in decades.

NdFeB magnets -- the world's most powerful and efficient permanent magnets -- are essential components in vehicles, drones, robotics, electronics, and aerospace and defense systems. Despite their indispensable role, the U.S. has relied almost entirely on foreign sources for these critical inputs for decades. With commercial NdPr metal production already online and trial production of Sintered magnets underway, Independence is poised to produce approximately 1,000 metric tons of finished NdFeB magnets per year, with a gradual production ramp beginning in late 2025. The facility will supply magnets to General Motors and other manufacturers, sourcing its raw materials from Mountain Pass, MP Materials' mine and processing facility in California.

In 2024, MP Materials achieved record-breaking production at Mountain Pass, delivering more than 45,000 metric tons of rare earth oxides (REO) contained in concentrate -- an all-time high for U.S. primary production. Mountain Pass, America's only active rare earth mining and processing operation of scale, also set a midstream production record, producing approximately 1,300 metric tons of NdPr oxide in 2024, in addition to cerium,lanthanum, and other separated and refined products.