A new magnet factory has been built in the United States and is expected to begin shipping in April.

Golden Ten Data March 27 – USARareEarthInc. will begin commercial shipments of magnets in April. According to a statement from the company, its first rare earth magnet production line in Stillwater, Oklahoma, is now operational and is expected to reach full capacity of 600 tons per year by the end of December. In January this year, USARareEarthInc. signed a non-binding agreement with the US Department of Commerce to receive $1.6 billion in funding support for the construction of a mine to supply raw materials for its magnet production. USARareEarthInc. stated that by 2027, the capacity of the Oklahoma magnet plant is expected to reach 1,200 tons per year.