US rare earth magnet producer MP Materials began commercial production of neodymium-praseodymium (NdPr) and trial production of neodymium-iron-boron (NdFeB) at its Independence facility in Fort Worth, Texas.
MP expects to produce approximately 1,000 metric tonnes (t)/yr of NdFeB magnets at the facility with a gradual production increase beginning in late 2025.
MP will deliver finished magnets to General Motors and other manufacturers.
In 2020, China accounted for about 90pc of related metal refining and 92pc of global NdFeB magnet and magnet alloy manufacturing.
US consumption of NdFeB magnets is forecast to more than double to 37,000t in 2030 from 16,100t in 2020 and more than quadruple to 68,600t in 2050, according to a Department of Energy study from 2022.
