USA Rare Earth will locate the first fully integrated U.S.-based rare earth metal and sintered neo-magnet manufacturing facility in Stillwater, Oklahoma. The $100 million project is expected to create 100 jobs.
The company will utilize its owned facilities and technology to convert rare earth oxides into metals, magnets and other specialty materials. These products have numerous applications, including electric vehicles, wind turbines, mobile electronic devices and military hardware. Initial production at the site is expected to commence in 2023.
“Currently, the United States, European Union, Japan, and much of the developed world is largely reliant on China for critical rare earth element production,” said Thayer Smith, president of USA Rare Earth. “Our goal with this project is to advance U.S. manufacturing capacity by establishing the first vertically integrated domestic supply chain for rare earth elements, and we are excited to be working in Oklahoma.”
USA Rare Earth controls and operates the Round Top Heavy Rare Earth, Lithium and Critical Minerals Project in Hudspeth County, Texas. In 2020, the company acquired the only sintered neo-magnet manufacturing equipment in the western hemisphere.
“Our mission is to bring jobs, investment, and economic prosperity to the state of Oklahoma,” said Director of Business Development at the Oklahoma Department of Commerce, Jennifer Springer. “By establishing more high-wage job opportunities, this project will enable Oklahoma to become a nationwide industry leader across its core economic competencies.”
“To increase national security, the U.S. must secure a domestic, reliable and sustainable supply of critical rare earth elements,” said Ken Wagner, Secretary of Energy and Environment for the state of Oklahoma. “Oklahoma is perfectly positioned to help lead the way as the U.S. seeks energy independence and less reliance on foreign materials from countries who do not share our values.”